Hong Kong SFC (2022): "The Securities and Futures Commission (SFC) has reprimanded and fined Asia Research & Capital Management Limited (ARCM) $1.75 million for failures relating to its non-compliance with the European Union's short selling reporting requirements (EU Regulation) and to promptly notify the SFC of its material regulatory breaches (Note 1). The SFC has also banned Mr Billy Wong Yim Chi, ARCM's former Head of Compliance and Operations and Manager-In-Charge (MIC) for Compliance for two months from 10 October 2022 to 9 December 2022 (Note 2). This is because ARCM's failures to comply with the EU Regulation were directly attributable to Wong's failure to discharge his duties as ARCM's MIC for Compliance and a member of its senior management during the material time.