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Bank wins first HK misselling case of 2016

A high net worth Standard Chartered (StanChart) client who invested and lost US$1.7 million in a Madoff-linked fund has lost a claim in Hong Kong against the bank for misrepresentation and breach of duty of care toward its clients. Hong Kong’s Court of First Instance found that StanChart was guilty of neither when giving advice and recommendations regarding the Fairfield…

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