You are here

Hong Kong loses big by beating Moody's in court

Its reputation as a financial centre is damaged, for there is nothing wrong with share prices falling due to reports highlighting risks.

The severity of the penalty appears misguided (the SFC wanted to fine Moody's HK$23 million), and the overall prosecution perhaps over-zealous.

ON March 31, Hong Kong's Securities and Futures Appeals Tribunal largely upheld the findings of the Securities and Futures Commission (SFC) against Moody's Investors Service. Moody's has received a public reprimand and an HK$11 million (S$1.9 million) fine for various failings related to a

Market voices on:

Powered by GET.comGetCom