UBS hit with HK IPO ban as SFC steps up crackdown

Hong Kong's securities regulator bars Swiss bank from sponsoring IPOs for 18 months as it intensifies efforts to ensure the quality of newly-listed companies and protect investors.

UBS hit with HK IPO ban as SFC steps up crackdown

UBS's Asia investment banking business is facing a massive blow after Hong Kong's securities regulator slapped it with an 18-month ban on sponsoring initial public offerings in the city. 

In perhaps its harshest penalty ever on a bulge-bracket investment bank, Hong Kong's Securities and Futures Commission SFC will also impose a fine of HK$119 million $15.2 million against UBS for its role as a sponsor of certain initial public offerings listed on...

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