The Securities and Futures Commission (SFC) has reprimanded President Securities Hong Kong and fined it $2 million (US$258,062) for failing to act in the best interests of its clients when accepting subscriptions for a number of Lehman Brothers-related structured products from 21 Taiwanese clients in 2008. The Taiwanese clients were referred to President Securities by its parent company in Taiwan,…
SFC punishes President Securities for mishandling Taiwanese clients’ accounts
7 December 2012
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