HK Bans Ex-Citi Global Markets Banker From Industry for 10 Years
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Hong Kong’s Securities and Futures Commission has banned a former Citigroup Inc. banker from re-entering the industry for 10 years for regulatory breaches, one of the most high-profile disciplinary actions in recent years.
The financial watchdog said that breaches and internal control failures at Citigroup Global Markets Asia Ltd. were attributable to Philip John Shaw’s inability to discharge his duties as a responsible officer and senior manager, according to a statement on Monday.