Hong Kong’s Securities and Futures Commission of Hong Kong (Hong Kong markets regulator) issued a circular requiring stronger account opening and client monitoring controls after examining 12 licensed securities brokers. The review found insufficient due diligence, acceptance of suspicious or forged documents, and accounts used for suspicious fund transfers without trading activity. The regulator ordered firms to identify and close such accounts, strengthen monitoring of unusual deposit and withdrawal activity, and introduce additional measures for accounts linked to mainland investors, underscoring tighter compliance expectations in cross-border securities activity.