HK SFC hits RBC Investment Services (Asia) with HK$7.7m fine

clock • 1 min read

The Hong Kong Securities and Futures Commission (SFC) has reprimanded RBC Investment Services (Asia) Limited (RBC) and fined it HK$7.7m after it "failed to segregate client money and transferred client securities without standing authority from the clients, in breach of the Securities and Futures (Client Money) Rules (Client Money Rules) and the Securities and Futures (Client Securities) Rules (Client Securities Rules)." The SFC referenced failures on 86 occasions between January 2018 to August 2020, involving individual transactions amounts between HK$146 up to HK£52m The regulator a...

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