New sheriff in Hong Kong markets hands out fines

The SFC’s new enforcer has been clearing the decks on long-running investigations. That's a wise move — he can now move on to bigger, tough-to-tackle problems.

Thomas Atkinson, the head enforcer for the Hong Kong securities watchdog, has been making his presence felt.

Since his appointment on May 3 to the Securities and Futures Commission SFC for a three-year term, he has been naming and shaming banks for breaches and handing out a slew of small fines.

Banks to fall foul of the new sheriff in town include Morgan Stanley, Bank of America Merrill Lynch and most recently HSBC, which was hit with a small fine on Wednesday.

Before taking up responsibility for surveilling the securities and futures markets for unacceptable conduct in Hong Kong, Atkinson held a similar...

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