The Securities and Futures Commission of Hong Kong issued a restriction notice to Golden Profit Securities Limited to freeze client accounts related to suspected corporate misconduct.

The Securities and Futures Commission (SFC) of Hong Kong has issued a restriction notice to Gold Well Securities Limited (Gold Well), prohibiting them from disposing of or dealing with certain assets held in a client account. The account belongs to a member of the board of a listed corporation who is suspected of committing misconduct and breaching their duties as a director. Gold Well is not the subject of the SFC's investigation and has been cooperating with the SFC's inquiries. The restriction notice does not affect Gold Well or any other clients of the firm. The restriction notice prohibits Gold Well from disposing of, dealing with, facilitating, inducing, or prompting another person in any way to dispose of or deal with certain assets in the account (up to the amount stated in the notice) without obtaining the SFC's prior written consent. Gold Well must also inform the SFC if they receive any instructions related to the specified restrictions. The SFC believes that issuing the restriction notice is necessary to preserve the assets in the account in order to ensure funds are available to comply with any court orders in legal proceedings that the SFC may initiate, and it is in the interest of protecting the interests of investors or the public.