Hong Kong watchdog flexes its muscles

The Securities and Futures Commission's new top enforcer has wasted no time making an impact. That's not just right — it's also good for business.

There’s a new sheriff in town and he’s not afraid to take action. Thomas Atkinson, the new enforcer at Hong Kong’s securities regulator, has got off to a rapid start, imposing a series of fines and working as quickly as possible to get through the regulator’s bloated backlog of cases.

Since his appointment on May 3 to the Securities and Futures Commission SFC for a three-year term, Atkinson has been hard at work.

UBS revealed on Friday that the regulator was investigating its role as an IPO sponsor, a move that in the worst case scenario could lead to the Swiss bank losing its corporate finance licence...

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