HK SFC Fines Taiping Sec. HK$1.3m Over Internal Control Failures

Hong Kong’s Securities and Futures Commission fined Taiping Securities (HK) HK$1.3 million for internal control failings in relation to employee dealings from January 2016 to November 2018, according to a statement on its website.

• The senior management, the compliance department and the responsible officer responsible for monitoring employee dealings did not have a clear and consistent understanding of their roles and duties, nor did the company maintain any record of their reviews on employees’ transactions

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Alfred Liu in Hong Kong at aliu226@bloomberg.net

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