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SFC slaps EFG Bank with HK$2 million fine

The Securities and Futures Commission (SFC) has reprimanded and fined EFG Bank HK$2 million for dealing in futures contracts for its clients without the required registration. Between 1 April 2003 and 22 November 2016, the Swiss pure play executed 139 transactions in offshore listed index options – which constitute as futures contracts according to the Hong Kong watchdog – for…

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