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SFC fines China Merchants Securities HK$27m for sponsor failures

SFC, 27-May-2019

As we predicted in March when UBS was fined but one of its clients was not named, this relates to the IPO of China Metal Recycling, listed in 2009 and ordered in 2015 to be wound up. The IPO was jointly sponsored by UBS and China Merchants Securities.

Organisations

• CHINA MERCHANTS SECURITIES (HK) CO., LIMITED 招商證券(香港)有限公司
• China Merchants Securities Co., Ltd. 招商證券股份有限公司
• China Metal Recycling (Holdings) Limited 中國金屬再生資源(控股)有限公司
• UBS AG
• UBS SECURITIES HONG KONG LIMITED

Topics

• Sponsor regulation

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