May 08, 2020 BY Steffy Bogdanova

Mega International Commercial Bank fined $7 million for regulatory breaches

The company also failed to ensure that that the investment advice provided to its clients was suitable to their circumstances. MICBC neglected to conduct product due diligence, identify funds which constituted derivative products and ensure relevant factors were taken into account before assigning risk ratings to funds. In its decision, SFC took into account that…

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