Hong Kong Ends UBS' IPO Suspension Ahead Of Time

Law360 (January 14, 2020, 4:42 PM EST) -- The Hong Kong Securities and Futures Commission on Tuesday ended its suspension of UBS' initial public offering sponsorship license two months ahead of time after concluding the investment bank's governance practices are up to speed.

Hong Kong regulators last March suspended the Swiss company's IPO sponsorship license for a year as part of a sweeping measure in which the agency handed down a total penalty of HK$786.7 million ($101.1 million) to UBS and other financial institutions for failing to fulfill duties regarding several IPOs.

UBS received the largest fine in the group at HK$375 million for allegedly negligent work with three listings. Morgan Stanley Asia Ltd.,...

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