Hong Kong Probes Financial Firms With Biggest Raids Since 2017

Hong Kong regulators raided the offices of two leading Chinese brokerages and a prominent investment firm this week, marking one of the most significant enforcement actions against the city’s financial sector in almost a decade.
Local offices of Citic Securities Co. and Guotai Junan International Holdings Ltd. were targeted and at least one senior banker was detained, according to people familiar with the matter. Infini Capital Management Ltd., an investment firm founded by Tony Chin , was also caught up in the sweep.