Techub News: Saxo Financial (Hong Kong) Limited was reprimanded and fined HKD 4 million by the Hong Kong Securities and Futures Commission for regulatory deficiencies in distributing unrecognized virtual asset funds and virtual asset-related products on its online trading platform. Between November 1, 2018, and November 25, 2022, the company allowed retail clients to trade several virtual asset products that should have been sold only to professional investors, executing 1,446 transactions for 6 individual professional investors and 130 retail clients, involving 32 virtual asset products (including 21 exchange-traded derivative virtual asset products).

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