HK SFC raps Citi as widespread IPO crackdown continues

Hong Kong’s securities regulation fines the US bank HK$57 million for sponsor failures, part of the watchdog's crackdown to ensure the quality of newly-listed companies and protect investors.

Citigroup has been slapped with a HK$57 million ($7.2 million) fine over the discharge of its duties as a listing sponsor of China’s Real Gold Mining on the Hong Kong Stock Exchange.

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