CIC Investor Services cops SFC fine for not complying with regulatory requirements for professional investors

15 November 2012 | 2 minutes read

The Securities and Futures Commission (SFC) has reprimanded CIC Investor Services (CIC) and fined it $4 million (US$516,065) for its failure to comply with regulatory requirements in treating clients as professional investors and to keep adequate records of investment advice given to clients. In particular, the SFC investigation found  the French firm had failed to provide evidence that its clients…

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