Hong Kong’s Securities and Futures Commission flexed its muscles for a second time this week on Tuesday as it fined Citigroup HK$4 million $500,000 over regulatory breaches in the management of its alternative liquidity pool.
Having also reprimanded the investment banking arm of China Construction Bank on Monday for its shoddy due diligence on the initial public offering of Fujian Dongya Aquatic Products in 2014, the watchdog is ramping up its…