Moody’s Fined HK$11 million over Red Flags Report on Chinese Companies
SFAT Reprimands and Fines Moody’s HK$11 million over Red Flags Report on Chinese Companies
The Securities and Futures Appeals Tribunal (SFAT or the Tribunal) has upheld a disciplinary action brought by the Securities and Futures Commission (SFC) against Moody’s Investors Service Hong Kong Limited (Moody’s). However, not all the SFC’s claims were upheld and the SFAT reduced the fine to HK$11 million from the HK$23 million proposed by the SFC.
A decision was made on the appeal on 31 March 2016, and the ‘reasons for determination’ were published and shared on the SFC’s website on 5 April 2016. Read more