Published:
UBS Securities fined $1.6 million
Reprimanded for regulatory breaches and internal control failings.
The reprimand and fine imposed by the Securities & Futures Commission follows an investigation into 175,697 contracts in China Construction Bank stock options in breach of the prescribed position limit of 150,000 contracts on October 18, 2011.
The commission also found UBS failed to implement adequate internal controls to ensure the positions it held or controlled were in compliance with prescribed limits.
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