The SFC fined the bank for ‘systematically overcharging’ around 5,000 clients on fees, according to the regulator.
Category: Regulation
Ex-CSRC head: tighten oversight
As China’s asset management industry opens and more foreign firms enter, regulations are not keeping pace, according to Xiao Gang, former head of the China Securities Regulatory Commission.
Banks handed tighter regs on fund due diligence
SFC’s recently introduced “complex product” regulations have extended retail investor due diligence requirements to professional investors.
SFC bans former UBS director for life
As a manager of investment portfolios for clients in Hong Kong, he was convicted of accepting illegal commission payments.
Thailand aims to tighten fixed-term fund regs
The country’s securities regulator wants fund managers and distributors to disclose more information about the products’ risks.
Foreign firms scramble in fast-changing China
Aberdeen Standard Investments is the latest wholly-foreign owned enterprise manager to expand into advisory services in China.
Ex-Goldman exec banned for life in HK
For involvement in the 1MDB scandal, Tim Leissner also has a lifetime prohibition on entering Singapore’s financial industry.
No takers for HK’s new fund structure
But the hope is that a July change in Cayman Islands regulations will steer hedge and private fund managers toward locally-domiciled funds.
Fund firms struggle with SFC’s responsibility regime
A number of firms are still finding it difficult to comply with Hong Kong’s manager-in-charge (MIC) regime.
MAS bans ex-UBS Singapore employee
While representing UBS Singapore, he had forged documents and falsified company emails, the regulator said.
