Hong Kong regulator to penalise wayward IPO sponsors after UBS ban

People look out from the waterfront in the Tsim Sha Tsui district as buildings across the Victoria Harbour stand illuminated at night in Hong Kong, China, on Tuesday, Aug. 30, 2016. Photographer: Anthony Kwan/Bloomberg

The enforcement chief of Hong Kong’s securities regulator said some sponsors of initial public offerings in the city have been “extremely reckless,” signaling more penalties to come after the regulator slapped a ban on UBS Group AG’s local unit this month.

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