SFC Warns Against Unregistered Chinese Financial Advisory Company

The Securities and Futures Commission (SFC) in Hong Kong has released a warning regarding local company Ocean Star Capitals. The issue with this accounting agency is that it is offering financial consultation and online investments without the necessary license.

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Ocean Star Capitals presents itself as an accounting firm which provides clients with wealth management, investing guidance, financial planning, institutional services, task and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term, and more. Joseph Lee, the president and CEO of the company, had a career of 12 years with another Chinese investment advisory firm. He is also said to have served as chairman of a European private equity fund.

Erica Satoh, the CFO, worked at Price Waterhouse (known now as PricewaterhouseCoopers) as a tax manager before coming to Ocean Star Capitals. She also held a position managing tax, Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term, and accounting at Sony Japan.

Other than the first issue regarding the lack of a license, the firm comes under fire due to its stating of a false location and identifying itself under two different names. Ocean Star Capitals claims that its offices are at a Hong Kong address, but the SFC says that it is not located there.

Furthermore, at its bank account the Chinese accounting firm is registered under the name HK Sea Young Trade Co Limited. The SFC warns that multiple names may mean that an unlicensed company has taken a name similar to that belonging to a legitimate company in order to cause confusion among investors, and ultimately draw in unsuspecting clients.