Wu said that the Hong Kong Securities and Futures Commission (SFC) recently penalized Saxo Financial (Hong Kong) Limited for distributing virtual asset funds and virtual asset-related products not approved by the SFC on online platforms, violating regulatory regulations, and fined 4 million HKD. The SFC pointed out that Saxo Financial failed to 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 Saxo 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."

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)