Skip to content
Brand AI

ICBC UBS Asset Management

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

Back to profile1 entries

  1. 2018

    Ex-ICBC Credit Suisse trading room deputy head Hu Tuofu profited RMB 41.86 million from "rat trading," final ruling imposes 7 years and RMB 90 million fine

    From 2012 to 2015, Hu Tuofu used non-public information obtained through his position to conduct convergent trading and made a profit of RMB 41.86 million; the second-instance court sentenced him to 7 years in prison and a fine of RMB 90 million. Previously, fund manager Wang Yong made more than RMB 2.49 million from "rat trading," received a suspended sentence and a fine of RMB 2.5 million. Status: court judgment. Entities involved: Hu Tuofu, Wang Yong, ICBC Credit Suisse Fund Management Co., Ltd. Scope: fund industry personnel.

    Source