简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Former licensees were sentenced for creating misleading trading activity in Forebase shares, impacting market integrity.
The Eastern Magistrates Court sentenced former brokers Mr. Yip Chi Wing and Mr. Tsoi Chiu Kwan to three months in prison each, in a clear attempt to preserve market integrity. The two were convicted of deceitful trading in Forebase International Holdings Limited shares.
The court hearings revealed that Yip and Tsoi, as authorized brokers, played a pivotal role in the coordination of misleading trading patterns that erroneously indicated elevated activity in Forebase shares. For ten months in 2015 and 2016, this deceptive image of trade intensity was maintained.
While delivering the punishment, Magistrate Mr. Jeffrey Sze Cho Yiu stressed the seriousness of the brokers' acts and the need to safeguard the investing public. He said that a swift jail term was necessary due to the seriousness of the acts in order to prevent future misbehavior in the financial markets.
Mr. Christopher Wilson, the Executive Director of Enforcement at the Securities and Futures Commission (SFC), stated, “The court's decision sends a clear message to perpetrators of false trading on the legal consequence for harming market integrity and undermining the trust and confidence of the investing public.”
Mr. Wilson underscored the SFC's strong opposition to market abuses perpetrated by licensed professionals. The Securities and Exchange Commission said, “we will not hesitate to take action against licensed persons who abuse their positions to engage in market misconduct, as their wrongdoings are serious.” He also reminded licensed professionals of the need of maintaining the highest ethical standards and operating in ways that enhance both their customers' best interests and the general integrity of the market.
This action marks a watershed moment in the ongoing struggle against financial market manipulation and to maintain the moral standards that registered brokers must adhere to. In addition to preserving justice, the sentencing strengthens the legal framework designed to protect investors and promote ethical trading practices in financial markets.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Discover new CFD trading opportunities in Dubai and Abu Dhabi with Scope Markets, offering access to UAE equity indices and the growing GCC stock markets.
According to the report, the US dollar is approaching a significant turning point, with expectations growing that the Federal Reserve will accelerate interest rate cuts to bolster the economy. As a result, the dollar is on the verge of erasing nearly all of its gains from this year.
Discover the top digital payment trends for 2025, including cryptocurrencies, contactless payments, and AI fraud detection, transforming global financial transactions.
In this article, we will conduct a comprehensive examination of Vantage, delving into its key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service. WikiFX endeavours to provide you with the essential information required to make an informed decision about utilizing this platform.