Hong Kong’s Securities and Futures Commission (SFC) has issued a restriction notice to GA (Int’l) Capital Management Limited (GCML), raising serious concerns about the firm’s reliability, integrity, and overall fitness to remain licensed.

According to the SFC, GCML may no longer carry out any regulated activities, directly or via agents, without prior written consent. The restriction also blocks GCML from disposing of or dealing with any relevant property unless explicitly approved by the regulator. Routine operational expenses remain the only allowable activity - and only with prior notice and approval from the SFC.

The notice follows an on-site operation that included searches of premises used by a responsible officer at GCML, further underlining the seriousness of the case.

While details of the investigation remain limited, the SFC stated that the decision was made in the public interest and to protect the investing public.

‍

What It Means for the Prop Trading Ecosystem

Although GCML is not a prop firm, this move highlights an important trend: regulators are intensifying their scrutiny of licensed entities - especially those entrusted with client funds or operating within leveraged, high-risk segments.

For prop firms operating in or sourcing services from the Asia-Pacific region, this development serves as a reminder to:

• Vet counterparties carefully (especially fund managers, signal providers, or introducing brokers);
  
  
• Track regulatory news that may affect custodians or liquidity partners;
  
  
• Prepare for knock-on effects if asset freezes or license suspensions disrupt operations.
  
  

PropInsider will continue to follow global regulatory actions - from Hong Kong to the U.S. and Europe - spotlighting the policies, cases, and crackdowns shaping the future of the prop trading space.

‍