Legal
Hong Kong fines Swiss wealth manager HK$2m over offshore licence fails
The Securities and Futures Commission (SFC) has reprimanded and fined EFG Bank AG (EFG Bank) $2 million for dealing in futures contracts without the required registration (Note 1). The SFC found that between 1 April 2003 and 22 November 2016, EFG Bank executed 139 transactions in offshore listed index options…
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