Hong Kong’s SFC warns agains fake regulator Hong Kong Foreign Investments Trade Authority

Hong Kong’s SFC warns agains fake regulator Hong Kong Foreign Investments Trade Authority

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Hong Kong’s financial regulatory body, the Securities and Futures Commission (SFC), has added Hong Kong Foreign Investments Trade Authority (HKFITA) to its Alert List for improperly claiming to be a regulator or a market operator, a notice publuished on the SFC’s website indicated on Thursday.

The SFC said that the HKFITA pretends to be a regulator for the Hong Kong securities and futures markets when it has no such capacities. The HKFITA claims to be based in Hong Kong, when in reality it is not located there. The fake regulator uses the website address www.hkfita.org, which, as our research showed, is not currently active.

In the Alert List, the SFC includes entities that target Hong Kong citizens and provide financial services withouth the required authorization and license, or such that improperly claim to be associated to a genuine Hong Kong-regulated company.

The Hong Kong watchdog is a statutory body authorized to license, supervise, and discipline entities, including brokers, investment advisors, fund managers and financial intermediaries, that operate on the local securities and futures markets.

Source: SFC


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