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HKregulator suspends UBS’s IPO sponsor licence for one year


HONG KONG: Hong Kong’s securities regulator banned UBS on Thursday from sponsoring initial public offerings (IPOs) in Hong Kong for one year for failures as a sponsor of three IPOs.

The Securities and Futures Commission (SFC) also fined the Swiss bank HK$375 million ($47.77 million) and suspended the licence of UBS banker Cen Tian for failing to discharge his duties as sponsor principal in charge of the IPO of China Forestry, the regulator said in a statement.

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