HK Securities Watchdog Fines Merrill Lynch Unit

Law360, New York (April 2, 2015, 12:49 PM EDT) -- Hong Kong’s markets regulator on Wednesday announced that it has slapped Merrill Lynch Far East Ltd. with a more than $250,000 fine and reprimanded the company for a regulatory breach in its failure to limit contracts on a Chinese stock index.

The Securities and Futures Commission said in a statement that an investigation into the holdings of Merrill Lynch International found 14,181 contracts on the Hang Seng China Enterprises Index in May 2013, pushing the company past the prescribed position limit of 12,000 contracts.

“Merrill Lynch...
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