SFC brokers Towry Law payouts
The investment advisor will pay $33 million to disgruntled investors of loss-making hedge funds.
Towry Law International, a financial advisory company owned by UK-based and London-listed HHG, has agreed to pay HK$255.9 million ($33 million) ex-gratia to Hong Kong investors who lost money on mis-sold hedge funds in 2002. Towry Law did not admit any liability in the settlement arranged by Hong Kong's Securities & Futures Commission (SFC); an ex-gratia payment is made as a favour not as an obligation.
The SFC says Towry Law's offices in Hong Kong will remain open until the pa…
Sign In to Your Account
Access Exclusive AsianInvestor Content!
Please sign in to your subscription to unlock full access to our premium AI resources.
Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial—no registration fees required. Click the link to get started.
Note: This free trial is a one-time offer.