Wu said that the Hong Kong Securities and Futures Commission (SFC) recently penalized Standard Chartered Financial (Hong Kong) Limited for distributing unapproved virtual asset funds and virtual asset-related products on online platforms, violating regulatory regulations, and fined 4 million HKD. The SFC pointed out that Standard Chartered Financial did not assess whether clients had the knowledge to invest in virtual assets as required, did not provide sufficient risk warnings, and did not establish proper procedures for product due diligence. Although Standard Chartered Financial has taken remedial measures and voluntarily compensated clients for related losses, the SFC still considers its actions to have violated the relevant "Online Distribution and Investment Advisory Platform Guidelines" and "Code of Conduct."

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