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HK SFC Searches Financial Firms Offices in Connection with Nasdaq-listed Firms' Pump & Dump Operations: Report
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The Securities and Futures Commission of Hong Kong (SFC) conducted searches on offices of more than a dozen financial firms and individuals last month, including Hong Kong brokers, representatives of US underwriters and investors backing Nasdaq-listed companies, with the investigations focusing on operations related to “pump and dump,” Bloomberg quoted sources as saying. The action comes a few months after the New York Stock Exchange (NYSE) raised concerns about Hong Kong companies when it questioned them about their investor identity, relationships with the company and share allocation prior to the IPO, the report added. AAStocks Financial News |
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