Securities and Futures Commission of Hong Kong

Year 1989Regulated by Government

The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong's securities and futures markets. The SFC derives its investigative, remedial and disciplinary powers from the Securities and Futures Ordinance (SFO) and subsidiary legislation. Operationally independent of the Government of the Hong Kong Special Administrative Region, the SFC is funded mainly by transaction levies and licensing fees. As a financial regulator in an international financial centre, the SFC strives to strengthen and protect the integrity and soundness of Hong Kong's securities and futures markets for the benefit of investors and the industry.

Disclose broker
Sanction Fine
Disclosure summary
  • Disclosure matching Name matching
  • Disclosure time 2014-07-29
  • Penalty amount $ 89,621.12 USD
  • Reason for punishment Publish an advertisement that contains false and/or misleading information
Disclosure details

SFC reprimands and fines Bright Talent Securities International (Hong Kong) Limited

SFC condemns BRIGHT International (Hong Kong) Co., Ltd. and fined July 29, 2014 BRIGHT International (Hong Kong) Limited (Yiu Cai) was reprimanded and fined $700,000 by the Securities and Futures Commission (SFC) for allowing the publication of an advertisement containing false and/or misleading information (Note 1). The advertisement published in four newspapers and the website of Bright Talent (www.bsgroup.com.hk) from August 27 to September 14, 2013 created false impressions, making people think that BRIGHT The gold business of Financial Group Limited (Glory Talent Group) is regulated, and Bright Talent Global Bullion Limited (Glory Talent Gold Industry) is regulated by the SFC. In fact, gold business is not a regulated activity under the SFO, and Bright Gold is not licensed by the SFC to conduct any regulated activities (Note 2). Bright Talent Group is a wholly-owned subsidiary of Bright Talent Group, which is listed on The Stock Exchange of Hong Kong Limited. Yaocai Gold is also a wholly-owned subsidiary of Yaocai Group, operating gold business. The SFC considers that Bright Talent's fitness and properness as a licensee has been questioned. In determining the above sanction, the SFC has taken into account the cooperation shown by Yao Cai in resolving the disciplinary action with the SFC. End note: Bright Talent is licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities), Type 4 (advising on securities) and Type 7 (providing automated trading services) regulated activities. The information contained in the advertisement did not constitute false or misleading information to induce dealing for the purposes of the market misconduct provisions of the SFO. A statement of disciplinary action in relation to the above matters is available on the SFC website. Last updated on July 29, 2014
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