Hong Kongs Securities and Futures Commission: Freeze client accounts of Futu Securities and Dongwu Securities due to improper conduct

On November 28th, the Securities and Futures Commission of Hong Kong issued restriction notices to Futu Securities International Limited and Guotai Junan Securities International Brokerage Limited, prohibiting them from disposing or transferring assets held in the accounts ultimately owned by a board member of a certain listed company who is suspected of misconduct and violating his duties to the company. The restriction notices prohibit these two brokerages from disposing, processing, assisting, instigating, or causing another person to dispose of or process the assets in the accounts without prior written consent from the Securities and Futures Commission, up to the amount specified in the notices. If these brokerages receive any instructions related to the above restrictions, they must immediately notify the Securities and Futures Commission.