The Hong Kong Securities and Futures Commission fined Guangdong Securities HK $3 million (US $386,000) for failing to comply with anti-money laundering requirements in connection with third-party payments. According to SFC, between February 2011 and March 2013 the firm failed to make “appropriate” inquiries prior to processing third-party payments. In many cases, the firm had no information regarding the relationship between a client, the third party and the purpose for a payment. Among other things, Guangdong Securities is authorized to deal in both futures and securities.