The Securities and Futures Commission issued a reprimand against China Merchants Securities (HK) Co on Monday for ‘failing to discharge its obligations as a joint sponsor in relation to the listing application of China Metal Recycling’. Photo: Dickson Lee

Hong Kong’s financial watchdog fines China Merchants Securities HK$27 million for ‘failed’ IPO sponsor duty

  • The Hong Kong subsidiary of one of China’s largest brokerages has been fined by the Securities and Futures Commission for its sponsor work related to the listing of China Metal Recycling
  • The fine comes after joint sponsor UBS was disciplined for substandard sponsoring work
Topic |   IPO

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The Securities and Futures Commission issued a reprimand against China Merchants Securities (HK) Co on Monday for ‘failing to discharge its obligations as a joint sponsor in relation to the listing application of China Metal Recycling’. Photo: Dickson Lee
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