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Hong Kong regulator fines HSBC for regulatory breaches
Hong Kong's securities regulator said on Wednesday it fined and reprimanded HSBC (HSBA.L) (0005.HK) for regulatory breaches and internal control failings related to its position in the futures and options contract market. HSBC was fined HK$2.5 million ($322,294) for failing to put in place adequate internal controls to monitor its positions in Hong Kong Futures Exchange's futures and options contracts to ensure compliance with the prescribed limit, the regulator said. The breaches happened from May 26 to Aug 1 in 2014, said the Securities and Futures Commission in an e-mailed statement. The SFC probe found there was ... (full story)