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Hong Kong watchdog searches finance firms' offices in Nasdaq listings probe


Published on 2024-12-18 07:00:48 - Business Times
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  • 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 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, Alto Capital and Oriental Patron Financial Group, as part of an investigation into potential misconduct related to Nasdaq listings. This action follows the arrest of two individuals linked to these firms on charges of conspiracy to defraud. The investigation focuses on the firms' roles in facilitating the listing of companies on Nasdaq, with concerns about the accuracy of information provided during these processes. The SFC's move underscores a broader regulatory crackdown on financial misconduct in Hong Kong, aiming to ensure the integrity of financial markets and protect investors.

Read the Full Business Times Article at:
[ https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/hong-kong-watchdog-searches-finance-firms-offices-nasdaq-listings-probe ]