SFC settles with Cinda units

PUBLISHED : Tuesday, 03 August, 2010, 12:00am
UPDATED : Tuesday, 03 August, 2010, 12:00am

Hantec International, now known as Cinda International FX, has been reprimanded by the Securities and Futures Commission and fined HK$4 million, and Hantec Investment Consultant, now Cinda International Investment Consultant, has voluntarily surrendered its licence to the SFC. In 2004 and 2005, Hantec was found to have failed to adequately supervise staff, comply with margin requirements, set position limits and handle complaints. The SFC agreed to the settlement as parent Cinda International agreed to close the two units.