SFC reprimands Maxson

The Securities and Futures Commission (SFC) has publicly reprimanded Maxson Securities and its dealing director Annie Tsai. The SFC concluded that Maxson and Ms Tsai had been guilty of misconduct and their fitness and properness had been impugned for having failed to submit the firm's audited accounts by the due date three times. The SFC said the timely submission of audited accounts for registrants was an important step in supervising their financial positions.