SFC Fines Morgan Stanley HK Securities $18.5m for Internal Control Failures
Posted: Tue Aug 23, 2016 10:32 am
Hong Kong’s Securities and Futures Commission (SFC) announced today that ithas resolved its concerns with Morgan Stanley Hong Kong Securities (MSHK) over its internal control failures.
MSHK was reprimanded and fined $18.5 million for breaches of the Code of Conduct concerning its dealings in securities, futures contracts and provision of automated trading services.
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Internal Control Failures
The internal control failures of MSHK related to avoidance of conflicts of interest, comprehensive documentation of its electronic trading systems, disclosure of short selling orders, compliance with position limits ... (read more)