Source:
https://scmp.com/business/banking-finance/article/2038735/jp-morgan-entities-hong-kong-reprimanded-regulatory
Business/ Banking & Finance

JP Morgan entities in Hong Kong reprimanded for regulatory breaches, fined HK$5.6 million

Securities and Futures Commission reprimands the US bank for breaching regulations on disclosing its financial interests relating to 30 research reports in 2013, among other shortcomings

Among its findings, the SFC concluded that JP Morgan did not report ‘the breaches or suspected breaches’ in a timely manner. Photo: Reuters

The Securities and Futures Commission (SFC) has reprimanded two JP Morgan entities for regulatory breaches and fined them HK$5.6 million.

J.P. Morgan Securities (Asia Pacific) (JPMSAP) and JPMorgan Chase Bank, National Association (JPMCB) breached regulations including disclosure failures in research reports and offered offshore listed index options without the required licences from April 2003 to July 2015, the regulator said in a statement released on Thursday.