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Hang Seng Bank and Bank of East Asia are amongst the first banks in Hong Kong to set up sub-branches in Foshan under the new Sixth Supplement to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA
Recent investigations into regulated entities and financial institutions, and subsequent disciplinary sanctions, suggest that regulators will continue to take an active approach in Hong Kong
In November 2009 the Hong Kong Monetary Authority (HKMA) suspended an employee of DBS Bank (Hong Kong) Limited for 3 months for (i) failing diligently to disclose and explain to a client the product's risk, and (ii) failing to complete the risk disclosure statement for the client in accordance with the bank's internal control procedures
In late December 2009 Dah Sing Bank Ltd and Mevas Bank Ltd reached a settlement with the SFC and HKMA in which they agreed to make repurchase offers to eligible customers who bought equity index-linked fixed coupon principal protected notes issued by Lehman Brothers (PPNs) from the two banks
