Hong Kong Court Orders AMTD to Produce Records and Pay Fine in SFC Probe

The Hong Kong Court of First Instance has ordered AMTD Global Markets Limited—now known as oOo Securities (HK) Group Limited—to produce documents and pay a fine after it failed to comply with statutory notices issued by the Securities and Futures Commission (SFC) during an ongoing investigation.

The SFC is probing suspected fraudulent or deceptive practices and possible false or misleading disclosures in the IPOs of several listed companies where AMTD served as bookrunner, lead manager, and underwriter. The Court ruled that AMTD must comply with the outstanding information requests by 19 January 2026 and pay a fine for contempt of court, with the amount to be determined later.

AMTD argued that changes in ownership and management, as well as the relocation or loss of certain records, had prevented compliance. The Court, however, rejected those explanations, finding them unreasonable.

"The SFC does not tolerate non-compliance with the SFO," said Christopher Wilson, the regulator's Executive Director of Enforcement. "Licensed firms and individuals must cooperate with SFC investigations and must not withhold information when requested. Failure to do so undermines market integrity and will be met with robust enforcement action."

The ruling underscores the regulator's firm stance on enforcement as it continues its investigations into the role of financial intermediaries in Hong Kong's IPO market.