Liu Chong Hing Bank is facing questions from the securities watchdog over contradictory announcements it made last week, according to sources close to the Securities and Futures Commission (SFC). Last Tuesday, the bank issued a statement rejecting speculation that it was the subject of merger or acquisition offers. However, the next day it said preliminary approaches had been made in the past few months. Asked whether the commission was investigating the bank, SFC executive director Alan Linning said he could not discuss individual cases. But he confirmed the SFC was investigating a number of cases where firms had made allegedly misleading announcements.