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SFC reprimands investment adviser

The Securities and Futures Commission (SFC) has reprimanded Cypress International Investment Advisors Limited (CIIAL) for failure to meet liquid capital requirement, according to a statement. An SFC investigation found that CIIAL failed to maintain the required liquid capital on various dates between July 2008 and May 2009. The SFC also discovered that in previous financial resources (FRR) rules calculation, moneys…

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