The Hong Kong Securities and Futures Commission (SFC) has obtained certain interim injunctions in the Court of First Instance under section 213 of the Securities and Futures Ordinance.

The interim injunctions freeze bank accounts that are suspected of having received money from investors as a result of alleged frauds known as “boiler rooms”, where unlicensed entities defraud investors by holding themselves out as being licensed and carrying on regulated activities in Hong Kong.

The interim orders protect approximately HK$4.3 million worth of proceeds. On 7 January 2015, the Court will hear the SFC’s application for orders to stop the relevant entities from carrying on unlicensed activities and to suspend their websites.

The interim orders in relation to the bank accounts will remain in force until the hearing of the SFC’s application for final orders against the relevant entities, the date of which has yet to be fixed.

The SFC is also seeking final orders against the relevant entities, including permanent injunctions and other orders to provide relief to any victims.

A copy of the press release is available. http://bit.ly/1BpZkqF