HSBC Fined by Hong Kong Securities Regulator
14 Setembro 2016 - 9:20AM
Dow Jones News
HONG KONG—Hong Kong's securities regulator on Wednesday fined
and publicly reprimanded an Asian unit of HSBC Holdings PLC for an
internal-controls failure related to position limits.
The Securities and Futures Commission fined the Hongkong and
Shanghai Banking Corp. 2.5 million Hong Kong dollars (US$322,000)
for the misconduct, which the regulator said took place in
2014.
The regulator said HSBC breached the position limits for Hang
Seng China Enterprises Index futures and options contracts, and
hadn't implemented "adequate measures to ensure compliance" with
the limits.
A spokesman for HSBC said the bank apologizes for the breaches
and has cooperated fully with the securities regulator. HSBC "has
taken actions to improve our internal controls regarding our
compliance with the prescribed position limits in Hong Kong," he
said.
The Securities and Futures Commission over the past year has
focused on internal controls at banks.
Write to Julie Steinberg at julie.steinberg@wsj.com
(END) Dow Jones Newswires
September 14, 2016 08:05 ET (12:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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