SFC fines Moody’s HK$11m for “misleading” report

Moody's 230x150
By GlobalCapital
05 Apr 2016

Hong Kong’s Securities and Futures Commission has slapped Moody’s Investors Service with a HK$11m ($1.4m) fine for what the regulator says are shortcomings in a 2011 report on Chinese issuers published by the agency.

The regulator reprimanded Moody’s for a report titled Red Flags for Emerging Market Companies: A Focus on China, which was published on July 11, 2011. The fine followed confirmation by the Securities and Futures Appeals Tribunal (SFAT) of the SFC’s jurisdiction over Moody’s in the case.

According to a ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial