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COMMENTARY

Crackdown on banks gives Hong Kong an IPO edge

Authorities are making lead financial advisers liable for untrue statements in a client's prospectus.

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UBS and 3 of its peers will pay US$100m in fines for shoddy due diligence on IPOs stretching back to 2009.

Hong Kong

IT may have taken a while, but Hong Kong finally showcased an investor-protection edge. The financial regulator banned UBS from leading market debuts for a year, and the Swiss bank and three of its peers will pay US$100 million in fines for shoddy due diligence on initial public...

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