Bright Smart Securities & Commodities Group (HKG:1428) has been publicly reprimanded and fined HK$2.8 million by the Securities and Futures Commission of Hong Kong, according to a Monday release by the SFC.
The fine came as the regulator deemed the company's implementation of internal control procedures to monitor and detect wash trades conducted by its clients inadequate.
The inadequacy led to the execution of 1,021 pairs of wash trades involving 736 stocks and warrants executed by 615 clients from Nov. 1, 2023, to Sept. 13, 2025.
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