5 Sept 2023
SECURITIES AND FUTURES COMMISSION v. VANTAGE NEW GENERATION SECURITIES LTD (formerly known as Global Group Securities Limited)
- Citation
- [2023] HKCFI 2471
- Court
- Court of First Instance
- Case number
- HCMP1175/2023
The court was satisfied on the material before it that the defendant had contravened the specified provisions of the SFO and subsidiary legislation (including improper inclusion of a HK$1,179,000 commission receivable in liquid capital, failure to notify and keep records, failure to segregate and reconcile client money, failure to issue statements and failure to keep records) and that it was desirable under SFO s213 to appoint joint and several administrators to administer the defendant's property; accordingly declarations were granted and administrators appointed and costs awarded to the pla…