The Hong Kong Securities and Futures Commission (SFC) has fined Roofer Securities Limited $2.1 million for regulatory violations related to the improper use of client funds.
The investigation found that between February 2021 and July 2022, there were 12 incidents where Roofer failed to maintain sufficient funds in its segregated client account. These incidents arose as a result of Roofer using client account funds to meet margin calls.