Amid UBS probe, more banks in SFC's sights

UBS could lose its Hong Kong corporate finance licence after a crackdown by the local regulator. But it will not be the only bank threatened with stiff penalties, according to a source familiar with the regulator’s plans.
October 28, 2016

Hong Kong’s Securities and Futures Commission SFC is digging into UBS's role as a sponsor on more than one IPO. That could lead to the Swiss bank being stripped of a licence that allows it to sponsor Hong Kong listings and advise on mergers and acquisitions.

It is not the only bank that faces that risk. The investigation is only the first chapter in a long list of similar probes taking place in Hong Kong, said a person who works with both the regulator and bankers on enforcement issues.

“Everybody is under the microscope,” said the person. “There are around 8 to 12 serious...

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