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Hong Kong SFC fines UBS HK$11.55 million over regulatory breaches

The Hong Kong Securities and Futures Commission (SFC) has reprimanded UBS AG and UBS Securities Asia Limited (UBSSAL) (collectively, UBS) and fined them HK$9.8 million and HK$1.75 million respectively for multiple regulatory breaches, including the failure to obtain standing authorities when investing for non-Professional Investors (PIs). According to the SFC notice, UBS AG was fined for breaches in areas including…

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