Hong Kong’s securities regulator Tuesday fined Swiss bank UBS and a subsidiary a total of HK$11.55 million (U.S. $1.5 million) for various compliance failures.
UBS AG and UBS Securities Asia Limited (UBSSAL) were penalized HK$9.8 million and HK$1.75 million, respectively. The Securities and Futures Commission’s (SFC) investigation found between May 2004 and May 2018, UBS failed to make proper disclosure of its financial interests in some Hong Kong-listed companies covered in its research reports.
