Hong Kong Finance and Finance Bureau: The first enforcement report completed 81 investigations last year, 22 disciplinary actions involving fines of over 11.7 million

The Zhitong Finance App learned that the Hong Kong Financial Services Bureau released the first “Annual Enforcement Report”. In the past year, the bureau completed 81 investigation and investigation cases, as well as 22 disciplinary cases, and imposed disciplinary action on 35 supervised subjects, including public reprimands and total fines of over $11.7 million. The Bureau has also taken other disciplinary measures in appropriate cases, including temporary cancellation of registration and cancellation of practising certificates.

Looking ahead to the new year, the Finance and Finance Bureau stated that it will continue to focus on high-risk areas involving significant public interest, focusing on deficiencies in quality management and quality control systems, as well as serious audit deficiencies, which may lead to inappropriate audit opinions. At the same time, the bureau will continue to strengthen law enforcement capacity building, collaborate across borders with relevant regulatory agencies, and enhance the effectiveness of supervision and enforcement.