Hong Kong’s regulator has barred a boutique investment bank from advising companies on share sales and deals as part of a crackdown on sloppy work after a flood of problematic listings of Chinese groups.
The spate of listings led the Securities and Futures Commission in Hong Kong to overhaul its rules for the due diligence and preparation of companies for the stock market last year.
Under the new regime investment bankers face jail if they help a fraudulent company to sell shares.
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