Hong Kong's SFC fines UBS and suspends its licence for 12 months

clock • 3 min read

The Hong Kong regulator, the Securities and Futures Commission (SFC) has reprimanded and fined UBS US$47.7m for failing to discharge its obligations as one of the joint sponsors of three listing applications in China. UBS was one of three listing applications: China Forestry Holdings Company Limited, Tianhe Chemicals Group Limited, and another listing application.  The regulator also partially suspended UBS Securities Hong Kong's licence to advise on corporate finance for one year, so that UBS Securities Hong Kong will not act as a sponsor for listing application on the Stock Exchange...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.