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Ex-UBS associate director Tu Bing convicted of HK$1.46m bribery
The ICAC describes UBS AG Hong Kong Branch as a "foreign" investment bank. We're not sure what point they are trying to make. By the same token HSBC could be described as "foreign" as it is incorporated in the UK with a head office in London. Tu Bing was convicted for fleecing a Shenzhen-based asset management customer for 20% of his trading gains.