Saxo Hit With HK$4 Million Fine A Year After Shutting Hong Kong Operations Over Improper Crypto Sales
Hong Kong’s regulator fined Saxo Capital Markets HK HK$4 million for letting retail clients trade 32 complex crypto products that should only have been available to professional investors. The breaches ran from 2018 to 2022 and were caused by weak internal controls and missed checks on product risk and client knowledge.
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