Hong Kong regulator censures Bank of America units for takeover code breaches

Power Assets Holdings

29/06/2016 10:05

HONG KONG, June 29 (Reuters) - Hong Kong's securities 
regulator has publicly censured two units of Bank of America 
 BAC.N  for breaches of the city's takeover codes in relation to 
two transactions last year. 
    The Securities and Futures Commission (SFC) said in a 
statement on Wednesday the censures were linked to Bank of 
America's role in a partial offer for China Resources Beer 
 0291.HK  and the privatisation of Power Assets Holdings Ltd 
 0006.HK .  
    The SFC said Bank of America failed to disclose its dealings 
in relevant securities in the two transactions, as required by  
the city's takeover codes. 
    A Bank of America spokesman declined to comment.  
 
 (Reporting by Denny Thomas; Editing by Clarence Fernandez) 
 ((denny.thomas@thomsonreuters.com; +852 2843 6358; Reuters 
Messaging: denny.thomas.thomsonreuters.com@reuters.net)) 
 
Keywords: BANKOFAMERICA SFC/