UBS Hong Kong fine of HKD8m (USD1.03m) has been imposed by the Securities and Futures Commission (SFC) after the bank misclassified clients as professional investors for over 12 years. The SFC said the issue stemmed from an automated process that misread minimum portfolio thresholds for joint accounts, allowing UBS to sell products intended only for professionals and offer securities pooled lending without valid authorities. A review covering July 2018 to July 2022 found 560