Hong Kong SAR Market Review, Q3 2021: digitals on top

Compared to Q2 2021, the non-flow segment of the market increased by 9.5% in issuance (467 products). During the quarter, the Hong Kong SAR regulator Securities and Futures Commission (SFC) fined UBS AG and UBS Securities Asia HK$9.8m (US$1.3m) and HK$1.75m, respectively, over various regulatory breaches including the mis-selling of 12 structured notes to 15 clients . The notes were sold between October 2017 and February 2020 for a total notional amount of approximately US$12m. Includes: Pr