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Home > Finance > Hong Kong regulator fines UBS $1 million over investor classification errors

Finance

Hong Kong regulator fines UBS $1 million over investor classification errors

Published by Global Banking and Finance Review

Posted on October 20, 2025

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HONG KONG (Reuters) -Hong Kong's Security Regulator (SFC) said on Monday that it had reprimanded Swiss bank UBS AG and fined it HK$8 million ($1.03 million) for misclassifying its clients' professional investor status for more than 12 years.

A total of 560 joint accounts booked or managed in Hong Kong by the bank were misclassified, the regulator said.

In August 2021, the SFC reprimanded and fined UBS HK$9.8 million for various regulatory breaches, including failures of a similar nature, according to SFC.

UBS declined to comment.

The Hong Kong securities watchdog has since August stepped up scrutiny over banks' regulatory breaches, dishing out fines of HK$4.2 million to HSBC and HK$23.8 million to Deutsche Bank, respectively.

($1 = 7.7675 Hong Kong dollars)

(Reporting by Farah Master and Selena Li in Hong Kong and the Beijing newsroom; Editing by Toby Chopra and Louise Heavens)

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