UBS, Others Fined $100M By Hong Kong For Lax IPO Scrutiny
Law360 (March 14, 2019, 7:40 PM EDT) -- Hong Kong’s securities watchdog has suspended UBS' initial public offering sponsorship license for one year and handed down HK$786.7 million ($100.1 million) in fines against the bank and other financial institutions for failing to carry out their duties in relation to several IPOs.
UBS AG, which received the largest fine at HK$375 million, is being penalized by Hong Kong’s Securities and Futures Commission alongside Morgan Stanley Asia Ltd., Merrill Lynch Far East Ltd., and Standard Chartered Securities (Hong Kong) Ltd., the agency said in a statement Thursday. The penalties against the four companies follow the SFC’s announcement in October that it...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!
Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.