Shengli Securities was reprimanded by the Hong Kong Securities and Futures Commission for violating regulatory provisions, fined 1.7 million yuan, and had its license suspended.

Svmuu News: According to the Hong Kong Securities and Futures Commission (SFC), Victory Securities Limited has been reprimanded by the SFC and fined 1.7 million yuan for violating regulatory requirements, and the licenses of its responsible personnel have been temporarily suspended.
As previously reported, Hong Kong Victory Securities officially shut down all cryptocurrency trading functions for users with mainland China identities in February of this year, retaining only withdrawal privileges while no longer supporting deposits or new trades. The platform’s continued measures to gradually restrict services for mainland users—including the earlier ban on purchases and the suspension of new address verification—are intended to comply with the SFC’s regulatory requirements and relevant mainland policies.