On November 28, 2025, the Securities and Futures Commission ("SFC") issued restriction notices to Futu Securities International and Soochow Securities International, prohibiting them from dealing with or processing withdrawals from accounts suspected of misconduct. This move aims to preserve assets for potential legal proceedings and protect the investing public.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On November 28, 2025, the Securities and Futures Commission ("SFC") imposed restrictions on Futu Securities International (Hong Kong) Limited (Futu) and Soochow Securities International Brokerage Limited (Soochow). These restrictions, outlined in notices from the SFC, prohibit both entities from engaging in transactions with or processing withdrawals from accounts that are ultimately owned by a board member of a listed corporation suspected of misconduct. The notices specify that any assets in these accounts, up to the amount stated in the notices, are subject to these prohibitions.
In addition to the prohibitive measures, the notices mandate that Futu and Soochow immediately report any instructions received that could potentially violate these restrictions to the SFC. The SFC's actions are intended to ensure the availability of funds for any court orders in future legal proceedings and are deemed necessary to protect the interests of the investing public.
The SFC implemented these restrictions under sections 204 and 205 of the Securities and Futures Ordinance ("SFO"). Both Futu and Soochow are licensed under the SFO to conduct various regulated activities, and as such, are subject to its provisions.
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