RUIFENG SECURITIES LIMITED 瑞豐證券有限公司
SFC fines Ruifeng Securities HK$5.2m for fund management and account opening failures and suspends its responsible officer
| Statement of Disciplinary Action
SFC, 4-Dec-2023
This involves the Chairman and controlling shareholder of an unnamed mainland property developer, who held 98% of a Cayman fund managed by Ruifeng. The fund put 90% of its US$94.5m net assets into senior notes issued by a 100% subsidiary of the developer. We can tell you that the investment date of 9-Sep-2019 matches a Senior Notes issue by a subsidiary of Shenzhen-listed Tahoe Group Co Ltd (ex-000732.SZ), chaired by Mr Huang Qisen. The company was delisted on 4-Aug-2023. Ruifeng Securities was a Joint Lead Manager of the US$100m note issue, which was listed in Singapore.
SFC, 4-Dec-2023
This involves the Chairman and controlling shareholder of an unnamed mainland property developer, who held 98% of a Cayman fund managed by Ruifeng. The fund put 90% of its US$94.5m net assets into senior notes issued by a 100% subsidiary of the developer. We can tell you that the investment date of 9-Sep-2019 matches a Senior Notes issue by a subsidiary of Shenzhen-listed Tahoe Group Co Ltd (ex-000732.SZ), chaired by Mr Huang Qisen. The company was delisted on 4-Aug-2023. Ruifeng Securities was a Joint Lead Manager of the US$100m note issue, which was listed in Singapore.
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