Hong Kong regulator fines TC Capital International $3m over diligence failures 

clock • 3 min read
Hong Kong regulator fines TC Capital International $3m over diligence failures 

The Securities and Futures Commission (SFC) has reprimanded and fined TC Capital International Limited (TC Capital) $3m for failing to discharge its duties as the sponsor in the listing application of China Candy Holdings Limited (China Candy). In a statement on 1 August, the SFC said its investigation found that TC Capital failed to: conduct reasonable due diligence on the third party payments made on behalf of two top customers of China Candy; and maintain proper records of the du...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login