KINGLY Commodities, whose brokerage licence was revoked by the Securities and Futures Commission (SFC) in March, is seeking to re-open business in Hong Kong by appealing to the watchdog's independent appeal panel.
The Hong Kong-based commodities brokerage was ordered to close its offices after an investigation by the SFC into the way the company handled its clients' investments.
SFC assistant director (licensing) Alec Tsui confirmed that the appeal documents had been submitted and that a hearing had been scheduled for mid-December.
The appeal, which argues that findings by the SFC were incorrect, seeks to overturn the commission's decision to revoke the brokerage licence and the move to not grant another licence for consultancy services.
Three hearings have been fixed, but the matter could take the panel longer to reach judgment, Mr Tsui said.
''Being a private hearing, things have to remain confidential. But it can be said that the judgment is going to be final as far as the SFC is concerned,'' he said.