Hong Kong regulator reprimands and orders BOCI Securities Limited to pay HK$10 million (US$1.3 million) for regulatory breaches in selling investment products
The Securities and Futures Commission (SFC) has sanctioned and fined Bank of China International (BOCI) Securities Limited (BSL) HK$10 million over the firm’s internal system and control failures in its investment product selling practices. The SFC’s disciplinary action follows an investigation which found that BSL had failed to comply with a number of regulatory requirements concerning client profiling, product due diligence and suitability assessment in its sale and distribut
Continue reading and get unlimited access for 7 days with a free trial of SRP.
Get a free trialAlready a subscriber? Login