The Securities & Futures Appeals Tribunal has suspended Hong Kong Forex's licence until an appeal is heard July 15 and 16.

The company has failed repeatedly to implement measures to prevent its staff's unlicensed activities despite Securities & Futures Commission warnings.

Until July 15 Hong Kong Forex will be unable to conduct any leveraged foreign exchange business for new clients or accept and execute new orders from existing clients.

The commission and the company have discussed arrangements for the management of the suspension of its licensed activities including arrangements ensuring existing clients with outstanding positions will not be prejudiced.

The arrangements include:

* continuation of Hong Kong Forex's licensed activities for 60 days to ensure client money is returned and client positions can be closed in an orderly fashion;

* communication with staff, clients and the general public; and,

* ongoing monitoring by and communication with the commission.

For more information call Hong Kong Forex at 3180 8911, 3180 8912, 3180 8913, 3180 8914 or 3180 8915.