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Hong Kong’s SFC increases scrutiny of private equity managers

(Opalesque) The Hong Kong Securities and Futures Commission (SFC) has announced that it reprimanded and fined a Hong Kong private equity firm, SEAVI Advent Ocean Private Equity Limited (PE Firm), for employing or appointing unlicensed persons to perform regulated functions for its asset management business. This disciplinary action, following the SFC’s recent confirmation to exclude private offshore companies from the private securities exemption, may signify the beginning of a trend towards enforcement by the SFC against private equity managers.

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