Justin Sun: First Digital Trust is suspected of violating the Hong Kong Securities and Futures Ordinance

Odaily News Sun Yuchen publicly accused First Digital Trust (FDT) of violating the Hong Kong Securities and Futures Ordinance on the X platform. According to his disclosure:
In blatant disregard of all fiduciary obligations and regulatory norms, First Digital Trust (FDT) claimed to be managing the Aria Commodity Finance Fund’s $501.8 million securities portfolio on behalf of Techteryx under its own legal capacity.
Under the Securities and Futures Ordinance (SFO) of Hong Kong, any individual or company that provides securities portfolio management services must hold a Type 9 license from the SFC, unless the service is limited to its wholly-owned subsidiaries or provided by its 100%-controlled parent company.
Obviously, FDT is not only ignoring the basic principles of the trust industry, but also openly flouting Hong Kong's laws on banking and investment. In other words, its actions have completely disregarded Hong Kong's regulatory authorities and law enforcement agencies.