HONG KONG, March 15 Hong Kong's securities
regulator on Wednesday said it fined and reprimanded the unit of
Bank of Communications for failing to "discharge its duties" as
a sponsor of a listing application of a mainland Chinese company
in the city.
Bocom International (Asia) Limited was fined HK$15 million
($1.93 million) for due diligence failures on issues related to
China Huinong Capital Group Limited, the Securities and Futures
Commission (SFC) said in an e-mailed statement.
The breaches of Hong Kong's code of conduct included failure
to carry out "more due diligence to ascertain the truth and
completeness of the information" the firm provided, the SFC
($1=7.7683 Hong Kong dollars)
(Reporting by Julie Zhu)