It’s evidently the case that First Digital Trust(FDT) is unable to fulfill client fund redemptions and effectively insolvent. However, it continues to operate under the cover of a public trust in Hong Kong despite the major irregularities. There seem to be obvious loopholes in the trust industry in Hong Kong to circumvent financial and banking regulations as witnessed in the case of FDT. They will not only present a risk to the general public, but also put Hong Kong’s reputation as a global financial center at stake. I strongly appeal to Hong Kong regulators and law enforcement agencies to take decisive measures to address the loopholes and prevent further losses for the public.