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Hong Kong Watchdog Searches Finance Firms' Offices in Listings Probe

^{Published on 2024-12-17 20:40:48 - bnnbloomberg}
 

• Hong Kong's securities watchdog last month searched the offices of about a dozen finance firms and individuals as part of a probe of company listings on the Nasdaq Inc. exchange, according to people familiar with the matter.

The Securities and Futures Commission (SFC) of Hong Kong conducted searches at the offices of two finance firms as part of an investigation into potential misconduct related to the listing of companies on the Hong Kong stock exchange. The SFC, along with the Independent Commission Against Corruption (ICAC), targeted a financial services firm and an accounting firm, seizing documents and electronic devices. This action follows concerns over the accuracy of financial statements and compliance with listing rules. The investigation aims to ensure the integrity of Hong Kong's financial markets, which have been under scrutiny for potential irregularities in IPO processes. The firms involved have not been publicly named, and no individuals have been arrested, but the probe underscores the regulatory bodies' commitment to maintaining market transparency and investor confidence.

Read the Full bnnbloomberg Article at:
[ https://www.bnnbloomberg.ca/business/international/2024/12/18/hong-kong-watchdog-searches-finance-firms-offices-in-listings-probe/ ]

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