Hong Kong SFC Adds "King Kong Fund/King Kong Coin Issuance Limited" to Unlicensed Companies List

On September 9, the Hong Kong Securities and Futures Commission (SFC) has added "King Kong Fund/King Kong Coin Issuance Limited" to its list of unlicensed companies. It is understood that this entity had previously claimed to have an address in Hong Kong and provided a Hong Kong telephone number. The entity is suspected of conducting unlicensed activities in Hong Kong and targeting Hong Kong investors as the subject of its sales pitches, without being licensed by the SFC under the Securities and Futures Ordinance or registered to conduct regulated activities in Hong Kong. The SFC noted that this entity must not engage in any regulated activities in Hong Kong or actively promote its services to the Hong Kong public (whether within or outside Hong Kong).