UBS fined $1.5m by HK regulator for 'lacking due skill and care'

Mark Battersby
clock • 2 min read

The Securities and Futures Commission (SFC) has reprimanded and fined UBS AG and UBS Securities Asia HK$9.8m and HK$1.75m (HK11.55m, $1.5m) respectively for a raft of regulatory breaches. A number of issues concerning UBS's systems and controls were brought to the SFC's attention between September 2018 and November 2020 by self-reports from UBS or referrals of findings from the Hong Kong Monetary Authority (HKMA). The SFC's investigation found that between May 2004 and May 2018, UBS failed to make proper disclosure of its financial interests in some Hong Kong listed companies covered ...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?