SFC slaps HSBC for bond sale breaches in Asia

By naming and shaming the biggest bond salesman in the market, HK securities watchdog sends strong message: it won’t tolerate similar misconduct by others. After a record-breaking string of fines it seems the SFC is shrinking is backlog of cases.

SFC slaps HSBC for bond sale breaches in Asia

The Securities and Futures Commission SFC has fined a retail broking unit of HSBC in Asia a hefty HK$9.6 million $1.22 million for sloppy sales of bonds.

Hong Kong’s top securities watchdog has taken issue with the way British-headquartered HSBC has been selling bonds to clients without doing its homework first neither did it carefully match the bonds to the risk appetite of those clients, it said in a statement on Thursday.


FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: compliance | regulation | hsbc | bonds

Print Edition

FinanceAsia Print Edition