SFC Slaps City International Futures with $100,000 Fine for Regulatory Breaches
<p>City International Futures (Hong Kong) Limited (CIFHKL), which is now known as VERCAP Financial Services Limited, has been <a href=”https://apps.sfc.hk/edistributionWeb/api/news/openAppendix?lang=EN&refNo=23PR15&appendix=0″>fined</a> $100,000 and reprimanded by Hong Kong’s market supervisor, Securities and Futures Commission (SFC). This is due to their failure to comply with anti-<a href=”https://www.financemagnates.com/terms/m/money-laundering/” class=”terms__main-term” id=”f30ffb65-351e-44d6-9dae-0714f08b59b2″ target=”_blank”>money laundering</a> (AML), counter-terrorist financing (CTF) regulations, and other regulatory requirements.</p><p>SFC Charges City International […]