Credit Suisse Hit With Disclosure Fine In Hong Kong
Law360 (June 19, 2019, 4:57 PM EDT) -- Hong Kong's securities watchdog said Wednesday it has fined Credit Suisse for failing to comply with disclosure requirements in reports released by the investment bank focusing on Hong Kong-listed securities.
The Securities and Futures Commission said it has fined Credit Suisse (Hong Kong) Ltd. and Credit Suisse AG HK$2.8 million ($357,477) for failing to disclose market relationships with companies that were featured in research reports over a 10-year period. The SFC said Credit Suisse also failed to disclose that CSHK was a market maker when it revised the disclosure statements in its research reports.
The reports were published between 2006 and...
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