Hong Kong Fines Credit Suisse

SFC, the Hong Kong stock exchange regulator, has fined Credit Suisse HK$2.1 million (about 240,000 Swiss francs) for providing erroneous quotes in February of 2019, according to a report by «The Standard», a local newspaper.

The misleading market-making quotes resulted in the execution of some 8,000 stock option trades at the wrong prices. The mistake occurred due to a programming glitch that Credit Suisse didn’t immediately recognize.

The Swiss bank in June 2019 received a fine of HK$2.8 million from the SFC due to misleading research reports on securities listed in Hong Kong.