The Securities and Futures Commission ("SFC") has issued a restriction notice to Bloomyears Limited due to concerns about its reliability and integrity, preventing it from carrying on licensed activities and dealing with clients' property without prior written consent. The investigation is ongoing.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On May 21, 2025, the Securities and Futures Commission ("SFC") issued a restriction notice to Bloomyears Limited (Bloomyears) due to concerns regarding its reliability, integrity, and capacity to competently perform its regulated activities. Bloomyears operates under a license from the Securities and Futures Ordinance ("SFO") to conduct Type 1 regulated activities, primarily dealing in securities.
The SFC’s restriction notice imposes a prohibition on Bloomyears from engaging in any business activities or dealing with any property, either directly or indirectly through intermediaries, without obtaining prior written consent from the SFC. This measure is taken to safeguard the interests of the investing public and is grounded in sections 204 and 205 of the SFO.
The SFC’s ongoing investigation aims to comprehensively assess Bloomyears' compliance with regulatory requirements and ensure the integrity of the financial markets. The restriction notice serves as a precautionary measure to prevent any potential misconduct or unauthorized activities until the SFC completes its investigation.
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