Phoenix Capital Futures, a Hong Kong futures brokerage firm,
has been found guilty of misconduct and suspended from
operating for a two week period ending 7 April.
Securities and Futures Commission (SFC) said the firm failed
to maintain the minimum level of liquid capital required by the
country's financial resources rules (FRR) during January to
mid-October 2001. The regulator also said Phoenix
window-dressed its financial position in order to report
compliance and failed to notify SFC when its liquid capital
fell below the stipulated level.
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