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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| China Enterprises Ltd (CE) | USOTC:CSHEF | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.000001 | 0.00 | 00:00:00 |
From Jan 2020 to Jan 2025
HONG KONG—Hong Kong's securities regulator on Wednesday fined and publicly reprimanded an Asian unit of HSBC Holdings PLC for an internal-controls failure related to position limits.
The Securities and Futures Commission fined the Hongkong and Shanghai Banking Corp. 2.5 million Hong Kong dollars (US$322,000) for the misconduct, which the regulator said took place in 2014.
The regulator said HSBC breached the position limits for Hang Seng China Enterprises Index futures and options contracts, and hadn't implemented "adequate measures to ensure compliance" with the limits.
A spokesman for HSBC said the bank apologizes for the breaches and has cooperated fully with the securities regulator. HSBC "has taken actions to improve our internal controls regarding our compliance with the prescribed position limits in Hong Kong," he said.
The Securities and Futures Commission over the past year has focused on internal controls at banks.
Write to Julie Steinberg at julie.steinberg@wsj.com
(END) Dow Jones Newswires
September 14, 2016 08:05 ET (12:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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