"In March 2018, the SFC issued a decision notice in relation to one of the offerings under investigation," the bank said in its annual report.

"The notice provides for a fine of [#FF0000]HKD 119 million [/#FF0000](11 million pounds) and a suspension of UBS Securities Hong Kong Limited's ability to act as a sponsor for Hong Kong listed initial public offerings for [#FF0000]18 months[/#FF0000]," it said.

https://mobile.nytimes.com/reuters/2018/03/09/business/09reuters-ubs-group-hong-kong.html