The Hong Kong Securities and Contracts Committee (SFC) has banned Chu Hong, former director of Kylin International (HK) Limited, from organized activities for 12 months and a fine of $ 400,000 Hong Kong for its failure to manage private money.
The ban extends from August 16, 2025 to August 15, 2026.
Zhou, the major shareholder, director and former manager (MIC) in Kylin, had violated her duties between August 2018 and July 2021, when the company acted by investment manager and advisor to the sub -cayman sub -city.
At that time, Chu was responsible for approving borrowing agreements on behalf of money and supervising the internal controls designed to prevent money laundering and terrorist financing.
The SFC investigation concluded that it failed to distribute its responsibilities properly in these areas.
When determining the penalty, SFC said it took into account Chu’s acceptance of responsibility, regret, and a fair disciplinary record.
Kylin was licensed by the Securities Decree and the Future in Hong Kong (SFO) to implement the type of type 9 (Asset Management) from 2014 to January 2025, when its license was canceled after the company’s request.
ZHU served in multiple MIC roles during its mandate, including anti -money laundering, risk management, financing and accounting.
The organizer said that its disciplinary actions against ZHU are linked to a continuous separate situation that includes the management of a related entity of the same boxes. The details of this issue are still not announced waiting for its conclusion.