Mark Steward

Type: Person
Name: Mark Steward
First reported Jul 09 2014 - Updated Jul 10 2014 - 2 reports

Ping An securities unit fined in Hong Kong

The Chinese group’s Hong Kong securities unit has been reprimanded and fined close to $1 million for internal control failures.Hong Kong’s securities regulator has reprimanded Ping An of China Securities (Hong Kong) and fined it $6 million over serious ... [Published Asian Investor - Jul 10 2014]
First reported Apr 22 2014 - Updated Apr 23 2014 - 1 reports

Hong Kong regulators fine RBS £450,000 over trader losses

Royal Bank of Scotland avoided a more severe penalty by co-operating with the regulator. Photograph: Murdo MacleodHong Kong regulators have fined Royal Bank of Scotland HK$6m (£450,000) and reprimanded the bailed out bank for failings in internal controls ... [Published Guardian.co.uk - Apr 22 2014]

Quotes

Mr Mark Steward, the SFC's Executive Director of Enforcement, said, "this was a case of serious internal control failures. ping an has reacted properly and, in doing so, has saved itself from a harsher outcome. this case should send a clear warning to the industry that cavalier attitudes have no place in our market."
...This deserves substantial credit and is the reason why today's sanctions are not heavier ones," said Steward. "the sfc expects firms to report misconduct concerns immediately, as in this case" he added

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Ping An securities unit fined in Hong Kong [Published Asian Investor - Jul 10 2014]
SFC reprimands and fines Ping An of China Secur... [Published Hong Kong Securities and Futures Commission - Jul 09 2014]
SFC reprimands and fines Ping An of China Secur... [Published Noodls - Jul 09 2014]
SFC fines Ping An of China Securities (HK) $6 m... [Published Aastocks.com - Jul 09 2014]
Hong Kong regulators fine RBS £450,000 over tra... [Published Guardian.co.uk - Apr 22 2014]
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