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Hong Kong SFC issues over 30 restriction notices to deter social media ramp-and-dump schemes

The Hong Kong Securities and Futures Commission (SFC) has issued over 30 restriction notices against at least 28 brokerages in less than two months, showing its determination to eliminate social media ramp-and-dump schemes in the city. The social media-induced ramp-and-dump schemes were brought to light by the market volatility driven by online discussions about US stocks including GameStop, AMC and…

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