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04 Jun 2021 07:25PM Share this content
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HONG KONG: A former top UBS banker in Hong Kong, Cai Hongping, has had a five-year ban from the financial industry for misconduct on an initial public offering overturned after a review, the city s Securities and Futures Commission (SFC) said on Friday.
In 2019 the SFC, in the culmination of a crackdown on shoddy listing standards in Hong Kong, banned UBS from leading IPOs in the city for a year, and fined it and three rivals a combined US$100 million for due diligence failures on three IPOs.