HSBC Hong Kong investment units fined $450,000 for regulatory breaches

HONG KONG (Reuters) - Hong Kong's markets regulator fined two HSBC units HK$3.5 million (367,444.39 pounds) on Tuesday for regulatory breaches when placing money in HSBC bank accounts. The Securities and Futures Commission (SFC) said that some of the 53 funds managed by HSBC Investment Funds (Hong Kong) Limited and HSBC Global Asset Management (Hong Kong) had placed cash deposits with HSBC's banking operations. While these deposits were placed in interest-bearing accounts, most did not receive..