The Securities and Futures Commission (SFC) has prosecuted Bright Capital Investment and its two directors, and reprimanded a licensed representative of Peace Town Forex for breaching regulations on leveraged foreign exchange trading.
The action was part of the watchdog's efforts to tighten controls over leveraged foreign exchange trading.
The SFC said a seven-month investigation revealed Bright Capital allowed four of its employees to actively engage in leveraged foreign exchange trading without licence.
The SFC reprimanded the firm and directors Terence Ho Wing-cheong and Joseph Tong Suk-po. Separately, Mr Ho and Mr Tong pleaded guilty at the Eastern Magistracy to breaching the regulations.
Bright Capital was fined $30,000. Mr Ho and Mr Tong were each fined $15,000 and ordered to pay the SFC's cost of $30,000.
The SFC also reprimanded Li Ye-heng for engaging in leveraged foreign exchange trading on behalf of Bright Capital while a licensed representative of Hontex International Foreign Exchange.