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IPO Platform FINI loophole Found; HK SFC: Brokers Have Responsibility to Ensure Clients Meet System Requirements
Recommend 7 Positive 12 Negative 4 |
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A loophole in FINI, the IPO platform of HKEX (00388.HK), prevented it from recognizing investors who have opened accounts with different securities firms using their respective mainland China and Hong Kong identity cards and subscribed for IPO shares as multiple applicants. In response to the enquiry, the Securities and Futures Commission (SFC) emphasized that the FINI system would identify multiple IPO applications based on the IPO subscription information submitted by brokers. Investors must follow the relevant requirements when submitting applications, and use their Hong Kong Identity Card for subscription if they have one. In addition, brokers are responsible for ensuring that their clients meet FINI's requirements when submitting IPO applications for their clients. AAStocks Financial News |
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