SFC Slaps $4 Million Fine on BNP Paribas Wealth Management

Moderator: moderators

rank: 10000+ posts
rank: 10000+ posts
Posts: 11450
Joined: Thu Jan 14, 2016 9:36 am
Reputation: 2
Gender: None specified

SFC Slaps $4 Million Fine on BNP Paribas Wealth Management

Postby kreslik.news » Tue Aug 30, 2016 11:08 am

Hong Kong’s Securities and Futures Commission (SFC) has reprimanded and fined BNP Paribas Wealth Management (BNPPWM) $4 million for overcharging its clients between 1 January 2011 and 31 December 2013.

Join the industry leaders at the Finance Magnates London Summit, 14-15 November, 2016. Register here!

Overcharged Clients

The SFC’s investigation found during this time period, the monetary benefits, including charges, mark-ups and fees, received by BNPPWM from around 2,300 client transactions exceeded the levels it represented in the documentation provided to the clients. 

The total amount overcharged was in the region of $9.5 million with the affected transactions covering various types of ... (read more)

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Return to “news”