Regulatory Update – SFC Fines UBS AG and UBS Securities Asia Limited HK$11.55 million for regulatory breaches (August 2021)

On 3 August 2021, the Securities and Futures Commission (“SFC”) announced that it has reprimanded and fined UBS AG and UBS Securities Asia Limited (“UBSSAL”) (collectively “UBS”) HK$9.8 million and HK$1.75 million respectively over numerous regulatory breaches. In this regulatory update we will address the various internal control breaches that have ultimately resulted in UBS receiving this fine. CLICK HERE FOR FULL ARTICLE

Source: ComplianceAsia Hong Kong Regulatory Update