香港证监会谴责民众期货违法监管规定并处以罚款340万港元

Core Points - The company, Minzhong Futures Limited (now known as Yucheng Global Futures Limited), was fined HKD 3.4 million by the Hong Kong Securities and Futures Commission (SFC) for failing to comply with anti-money laundering and counter-terrorist financing regulations from June 2017 to December 2018 [1][2] - The SFC temporarily suspended the license of Li Zhen, the company's managing director and key function supervisor, for four months due to his failure to fulfill responsibilities related to the company's compliance shortcomings [1] - The investigation revealed that Minzhong did not conduct due diligence on a self-established system used by 89 clients for trading instructions, leading to inadequate assessment and management of money laundering and terrorist financing risks [1] - The SFC found discrepancies between the financial status declared by six clients and the funds deposited in their accounts, indicating a lack of effective monitoring systems to detect and assess suspicious deposits [1] - Additionally, Minzhong failed to establish an effective ongoing monitoring system to detect suspicious trading patterns, as evidenced by frequent and large transactions from the same clients [1][2]