Hong Kong tribunal upholds Moody's reprimand for report on Chinese companies

March 31, 2016 9:31 AM

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HONG KONG, March 31 A Hong Kong tribunal has upheld a disciplinary action against Moody's Investor Services for a report it published on Chinese companies, in a landmark decision that could curtail the kinds of services rating agencies can offer in the financial centre.

The Hong Kong Securities and Futures Appeals Tribunal (SFAT) said in a ruling published on Thursday that Moody's did breach aspects of the Securities and Futures Commission (SFC) code of conduct through the publication of a July 2011 report that raised corporate governance concerns over 49 Chinese c...

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