Hong Kong’s SFC Warns Against Daikyo Brokerage

Hong Kong’s Securities and Futures Commission (SFC) has today added Daikyo Brokerage Ltd to its Alert List. The latest addition is part of the regulator’s efforts to stamp down on unlicensed entities soliciting their services to the public in Hong Kong.

Daikyo Brokerage, which operates online via www.daikyo-brokerage-limited.com, offers a range of investment services, including trading in stocks and derivatives. According to its website, the firm claims to be based in Japan.

Unregistered

The unlicensed broker is reported to use a bank account in Hong Kong in the name of PVSS Holdings Limited for Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term. The SFC has cautioned the public to be aware of this, and other unlicensed entities who sometimes use names similar to legitimate companies to confuse investors.

Daikyo Brokerage made the press recently when it was also flagged by the FMA in April this year for soliciting its services without possessing the appropriate licence to conduct investment services in Austria.

Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term

Hong Kong’s financial watchdog helps keep investors informed by drawing attention to illicit operations and unregulated entities that market participants should abstain from doing business with.

The Alert List contains entities which have come to the attention of the SFC because they are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Daikyo Brokerage joins FXGlobal1 which was added to the SFC’s Alert List last week.