Victory Securities (the “Company”) has recently become aware of an anonymous or unidentified email being circulated to various accounting firms and professional institutions. The email contains a number of false and misleading statements about the Company’s regulatory status, audit risks and going concern, including allegations that the Company is “formally under investigation” by the U.S Securities and Exchange Commission (SEC) and the Monetary Authority of Singapore (MAS), and suggesting that the Company faces significant audit risks and uncertainties regarding its ability to continue as a going concern.
Victory Securities takes these allegations very seriously and would like to clarify the following:
As of the date of this statement, neither the Company nor any of its subsidiaries has ever received any formal investigation notice, letter, or other enforcement/ investigation document from the SEC or MAS. The Company is not aware of any official investigation process in relation to the case reference numbers mentioned in the email. Any suggestion that Victory Securities is “formally under investigation” by the SEC or MAS is fabricated and completely baseless.
Victory Securities is a licensed corporation regulated by the Securities and Futures Commission of Hong Kong (SFC) and has operated under a robust regulatory framework for many years. The Company attaches great importance to compliance and risk management and maintains close and professional communication with relevant regulators in Hong Kong. Regulatory interactions and reviews are part of the normal supervisory process and, by themselves, imply any adverse findings against the Company.
In respect of audit and financial reporting, the Company prepares and publishes its financial statements in accordance with Hong Kong Financial Reporting Standards and the relevant rules of the Hong Kong Stock Exchange. External auditors are appointed with due regard to their professional qualifications and independence. The Company does not agree with the way the email characterises its audit arrangements and so-called “significant audit risks”. Such descriptions are baseless and may mislead investors and the market.
Victory Securities reminds investors, business partners, and the general public that all material information and updates relating to the Company should be obtained from official announcements and documents published on the HKEXnews website and the Company’s official website, rather than from unverified emails or market rumours.
The Company has sought legal advice regarding the above false allegations and reserves all rights to take appropriate legal action against any parties responsible for disseminating such defamatory and misleading statements. Where appropriate, Victory Securities will also consider informing the relevant regulators and will fully cooperate with any enquiries or follow-up that may arise.
Victory Securities remains committed to providing professional, compliant, and transparent financial services to its clients and will continue to uphold high standards of risk management and disclosure in response to market concerns. For any further enquiries, please contact our corporate communications and investor relations team via the Company’s official channels.