Reported about 13 hours ago
HSBC has been fined HK$4.2 million ($537,683) by Hong Kong regulators for failing to adequately disclose its investment banking relationships with local companies in over 4,200 research reports from 2013 to 2021. The fine, resulting from a self-report and subsequent investigation, was attributed to deficiencies in HSBC's data management systems. Despite the issue, regulators noted there were no client losses linked to these disclosure failures. HSBC has stated that it has since corrected the shortcomings in its systems.
Source: YAHOO