Hong Kong Court Fines AMTD for Non-Compliance in SFC IPO Probes

The Court of First Instance in Hong Kong ruled AMTD Global Markets for contempt of court and ordered the firm to pay a fine for its failure to comply with the Securities and Futures Commission’s statutory notices during the watchdog’s IPO-related investigations, according to a statement.

• The SFC said its investigations were related to suspected fraudulent or deceptive schemes and the disclosure of false or misleading information in IPOs of certain listed companies where AMTD acted as bookrunner, lead manager and underwriter
• The court ordered AMTD, currently known as oOo Securities (HK), to comply with the outstanding SFC notices ...