HK SFC fines IFA, suspends responsible officer

Hong Kong’s Securities and Futures Commission (SFC) has reprimanded Solomon Independent Financial Advisors and fined it HK$1.5 million ($192,818) for facilitating the unlicensed activities of employees at insurance broker Black Swan Capital International. The SFC has also suspended the firm’s responsible officer, Connie Leung Wing Kam, for seven months from October 13, 2011 to May 12, 2012. Leung is also the managing director and owner of Solomon IFA. An SFC investigation found …