UBS(US:UBS) Xin Lang Cai Jing·2025-10-20 10:40Core Viewpoint - The Hong Kong Securities and Futures Commission (SFC) has reprimanded UBS AG and imposed a fine of HKD 8 million due to deficiencies in its internal systems and monitoring measures, which led to the incorrect classification of clients' professional investor status over a period of more than 12 years [1] Group 1: Regulatory Action - The SFC's investigation revealed that UBS failed to accurately classify clients as professional investors from 2009 to July 2022 [1] - UBS utilized an automated program to verify clients' professional investor status, which was based on a misinterpretation of the minimum investment portfolio requirements under the Securities and Futures (Professional Investors) Rules [1] - As a result of this misinterpretation, UBS incorrectly classified several joint accounts as professional investor accounts, when they should have been classified as non-professional investor accounts [1]