Monetary Authority warns citizens of unlawful activity by Futu Securities

The Monetary Authority of Macao (AMCM) has issued a statement warning citizens about a company named “Futu Securities” which, according to the AMCM, recently announced investment plans on several of their social media accounts.
In the statement, the AMCM noted that the company is not registered and has not been authorized to perform any financial activities in Macau. The operations of the company are therefore considered unlawful under the provisions of the legal regime of the financial system of Macau.
The AMCM said it is aware of an attempt by this company to bypass the regulations of Macau. They warned that unauthorized operations in this field by any person or entity constitutes a “particularly serious infraction” and that they can be fined up to 5 million patacas for such activities.
The AMCM is also warning the public to not engage in any financial transactions through unauthorized financial institutions to avoid being caught up in fraud and accruing losses. RM