Hong Kong regulator fines Bocom unit for IPO sponsor failures

HONG KONG, March 15 (Reuters) - Hong Kong's securities

regulator on Wednesday said it fined and reprimanded the unit of

Bank of Communications for failing to "discharge its duties" as

a sponsor of a listing application of a mainland Chinese company

in the city.

Bocom International (Asia) Limited was fined HK$15 million

($1.93 million) for due diligence failures on issues related to

China Huinong Capital Group Limited, the Securities and Futures

Commission (SFC) said in an e-mailed statement.

The breaches of Hong Kong's code of conduct included failure

to carry out "more due diligence to ascertain the truth and

completeness of the information" the firm provided, the SFC

added.

($1=7.7683 Hong Kong dollars)

(Reporting by Julie Zhu)