Hong Kong SFC issues restriction notice to brokerage firm to freeze over HKD 125 million in assets linked to suspected IPO fraud

Odaily Planet Daily News The Hong Kong Securities and Futures Commission (SFC) announced that it has issued a restriction notice to Futu Securities (03588.HK) International (Hong Kong) Limited, prohibiting it from dealing with or disposing of assets in client accounts held by a certain entity, up to a limit of HKD 125 million. The entity is suspected of being involved in a fraudulent scheme aimed at creating a false or misleading appearance of demand for IPO shares. Futu is not the subject of the SFC's investigation, and this restriction notice will not affect Futu or its other clients. The SFC considers that issuing such a restriction notice is in the interests of the investing public and the public, and the investigation is ongoing. (Jin Shi)