The Hong Kong regulator has accused the advisory firm, which, according to its website, is also licensed with the Securities and Exchange Commission in the US, of issuing adverts to promote a collective investment scheme without authorisation.
In a statement, the SFC alleged that “on or around 2 and 3 November 2011” the advisory firm issued an advertisement on the corporate website of Pacific Sun promoting a CIS called Pacific Sun Greater China Equities Fund. Then SFC added that Pacific Sun also emailed members of the public in relation to the same fund, again without SFC authorisation.
The defendants appeared before a magistrate earlier today and the case was adjourned to 1 November 2012 for a pre-trial hearing.
