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Enforcement
SFC Fines UBS Securities for Missing Client Consent Records
By Editors | 23/03/2018
The firm was only able to provide the regulator about half of the client consents for facilitation trades.
Enforcement
Deutsche Fined, Censured for HK Regulatory Breaches
By Samuel Riding | 15/03/2018
Securities regulator says fine would have been much higher were it not for self-reporting of breaches, cooperation in inquiry and ‘remedial measures’.
Enforcement
CLSA Fined $1.15mn for Internal Control Failures – SFC
By Manesh Samtani | 15/03/2018
The firm failed to put in place controls to prevent co-mingling of agency execution and client facilitation services.
Enforcement
UPDATED – SFC Hits UBS with Fine, IPO Underwriting Suspension
By Manesh Samtani | 12/03/2018
The bank was fined $15.2mn and intends to appeal its 18-month suspension from IPO underwriting; possible disciplinary action on eight other firms.
AML / KYC
Why Hong Kong’s New Trust Rules Won’t Boost AML/CTF Efforts
By Bradley Maclean | 01/03/2018
Rather than comply with new rules on beneficial owner registration and due diligence, many trusts are likely to simply leave Hong Kong for less onerous jurisdictions.
Enforcement
Hong Kong SFC to Focus on Corporate Fraud in 2018
By Editors | 27/02/2018
SFC’s recent newsletter on enforcement priorities details concern on false financial statements, IPO fraud and other sponsor failures.
Enforcement
HK SFC Sees Surge in Criminal Prosecutions
By Samuel Riding | 25/02/2018
Criminal charges laid by securities regulator nearly tripled in last nine months of 2018, although investigations started and concluded declined.
Securities / Derivatives
IOSCO Issues Guidance on Conflicts of Interest in Equity Offerings
By Editors | 24/02/2018
Recommendations developed by group of regulators including ASIC, Hong Kong’s SFC and Japan’s FSA.
Securities / Derivatives
SFC Raises Standards for Client Facilitation Trades
By Editors | 17/02/2018
Client facilitation traders must be segregated from agency traders to protect client information and avoid conflicts of interest.
Enforcement
Interactive Brokers HK Fined for Trading System Failures
By Editors | 15/02/2018
The firm’s electronic trading system repeatedly submitted orders without regard for market liquidity and without effective price and volume controls.
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