Page 29 - 期货和衍生品行业监管动态（2025年5月刊）

期货和衍生品行业监管动态

 中顺、沈振伟与 SFC 合作解决 SFC 提出的关注事项；及

 中顺的财务状况。

SFC Reprimands and Fines Sino-Rich Securities & Futures Limited $2 Million

and Suspends Its Responsible Officer for Failures in Relation to Margin Lending

Practices (2025/5/12)

The Securities and Futures Commission (SFC) has reprimanded and fined

Sino-Rich Securities & Futures Limited (Sino-Rich) $2 million for failures

concerning its margin lending policy and practices .

The SFC has also suspended the licence of Mr Budihardjo Wilhelm Soeharsono

(Budihardjo), a responsible officer and a manager-in-charge of Sino-Rich, for five

months and two weeks from 8 May 2025 to 22 October 2025 .

The SFC’s investigation found that, between 1 December 2017 and 30

September 2019, Sino-Rich failed to adequately document its margin lending policy

and strictly enforce a requirement that the credit limits of its clients were set by

reference to objective proof of their net income or net worth. The firm also failed to

require written explanations to justify deviations from its margin lending policy.

The aforesaid failures of Sino-Rich constitute breaches of the Code of Conduct.

The SFC considers that Sino-Rich’s failures were attributable to Budihardjo’s

failure to discharge his duties as a responsible officer and a member of the senior

management of Sino-Rich.

In deciding the disciplinary sanctions against Sino-Rich and Budihardjo, the SFC

took into account all relevant considerations, including the following:

 They were previously disciplined by the SFC in 2021 for Sino-Rich’s

failures in complying with anti-money laundering and counter-terrorist

financing regulatory requirements when handling cash deposits and

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