The Securities and Futures Commission of Hong Kong temporarily suspended the license of Mountain Securities International Securities' former licensed representative Deng Weicai for seven months.

The Securities and Futures Commission of Hong Kong has temporarily suspended the license of Deng Weicai (male), the former licensed representative of China International Securities Limited (China International Securities), for a period of seven months, from October 28, 2025 to May 27, 2026. During an investigation into a suspected "pump and dump" scheme, the SFC found that between July 10, 2019 and December 10, 2019, Deng, without the knowledge of China International Securities, accessed a client's securities account without valid written authorization and issued 945 trading instructions for the client through the internet. He also failed to properly document the client's trading instructions. Deng's actions not only deprived China International Securities of the ability to properly identify the person responsible for issuing trading instructions in the client's account, but also hindered the company's ability to properly audit evidence for the client's trading instructions. Such actions not only expose clients to potential risks of unauthorized trading and licensed corporations to potential trading disputes, but may also conceal the true source of transactions and impede the tracking and monitoring of suspicious trading activities, thereby facilitating market misconduct. When deciding on the above disciplinary action, the SFC took into account all relevant circumstances, including: - The duration and frequency of Deng's misconduct; - The need to send a deterrent message to the industry that such misconduct is unacceptable; and - Deng's lack of disciplinary record in the past.