UBS Securities IPO sponsor suspension lifted

Business | 14 Jan 2020 5:05 pm

The Securities and Futures Commission lifted the suspension of UBS Securities Hong Kong to act as a sponsor for listing applications on the Stock Exchange of Hong Kong.

The license was suspended for one year as part of the disciplinary action against UBS AG and UBS Securities Hong Kong, when they were sanctioned on March 14, 2019, for failures to discharge their obligations as one of the joint sponsors of three listing applications.

UBS has engaged and cooperated with an independent reviewer to review its policies, procedures and practices in relation to the sponsorship business, the SFC said.

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