Page 65 - 期货和衍生品行业监管动态（2022年7月）

期货和衍生品行业监管动态

Million for Mishandling Client Assets (2022/7/20)

The Securities and Futures Commission (SFC) has reprimanded RBC Investment

Services (Asia) Limited (RBC) and fined it $7.7 million for regulatory breaches

relating to mishandling of client assets (Note 1).

The SFC’s investigation found that between January 2018 and August 2020,

RBC had failed to segregate client money as required under the Securities and Futures

(Client Money) Rules (Client Money Rules) on 86 occasions, involving individual

transaction amounts ranging from $146 to $52 million.

The SFC also found that between 3 December 2012 and 26 March 2020, RBC

had breached the Securities and Futures (Client Securities) Rules (Client Securities

Rules), by transferring securities from 65 client accounts held by non-professional
investor clients to SEHK Options Clearing House Limited as collateral without valid

standing authority.

In deciding the disciplinary sanction, the SFC took into account all relevant

circumstances, including:

 RBC’s remedial actions and self-report to the SFC regarding its

breaches of the Client Money Rules and Client Securities Rules;

 RBC’s co-operation in resolving the SFC’s concerns and accepting

the SFC’s findings and disciplinary action; and

 there is no evidence of client loss from RBC’s non-compliance.

Notes:

1. RBC is licensed under the Securities and Futures Ordinance to carry

on Type 1 (dealing in securities), Type 2 (dealing in futures contracts), Type

4 (advising on securities) and Type 5 (advising on futures contracts)
regulated activities.

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