The SFC said the disciplinary action, which included a HK$1.6m (£135,000, $206,000) fine, followed an investigation which found the company had made ‘position limit’ failings.
Specifically, the SFC looked into the holding of UBS on behalf of its client, UBS AG London, of 175,697 contracts in China Construction Bank stock options which is in breach of the prescribed position limit of 150,000 contracts on 18 October 2011.
The SFC said it also found that UBS failed to implement adequate internal controls to ensure all opened positions in stock options contracts it held or controlled were in compliance with the prescribed limits.
