JP Morgan fined for failings in institutional equity business
Three JP Morgan units have been reprimanded and fined a total of HK$30 million for regulatory breaches and/or internal-control failings in Hong Kong.
Hong Kong’s securities regulator has reprimanded and fined three units of the JP Morgan group for regulatory breaches and/or internal-control failings within its institutional equities business.
JP Morgan Broking (Hong Kong) (JPMBHK), JP Morgan Securities (Asia Pacific) (JPMSAP) and JP Morgan Securities (Far East) (JPMSFE) were, respectively, fined HK$15 million ($1.94 million), HK$12 million and HK$3 million.
An investigation by the Securities and Futures Commission (SFC) revea…
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