SFC Sues Standard Chartered, UBS for Misconduct Over China Forestry IPO

[kreslik.news]

Hong Kong’s financial regulator, the Securities and Futures Commission (SFC), has filed a suit against Standard Chartered, UBS Group and four other parties in connection with the 2009 IPO of timber company China Forestry Holdings, according to a Reuters report.

To unlock the Asian market, register now to the iFX EXPO in Hong Kong

The SFC is seeking unspecified damages for market misconduct over the IPO prospectus of China Forestry filed in November 2009, together with the company’s 2009 annual report, its annual results and the results for the first six months of 2010.

The watchdog has also sued the company ... (read more)