Hong Kong’s Securities and Futures Commission (SFC) has banned Ms Zhu Hong, a substantial shareholder, director and former manager-in-charge of core functions (MIC) of Kylin International (HK) Co., Limited, from engaging in any regulated activities for 12 months from 16 August 2025 to 15 August 2026.

The regulator also fined Zhu $400,000.

The penalties stem from Zhu’s failures in managing various private funds.

Between August 2018 and July 2021, Kylin was the investment manager and/or consultant of sub-funds of a Cayman-incorporated fund. At the material time, Zhu was responsible for, among other things, approving borrowing agreements on behalf of the sub-funds and implementing internal control procedures to prevent money laundering and terrorist financing.

The SFC’s investigation revealed that Zhu had failed to discharge her duties as Kylin’s director and MIC for AML/CTF in managing the funds in question.

In deciding the sanction, the SFC took into account Zhu’s acceptance of liability, her remorsefulness, as well as her otherwise clean disciplinary record.