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City firms travelling to Saudi deny it's to woo oil giant Aramco

A number of City firms including PwC, Standard Life Aberdeen and the London Stock Exchange (LSE) will be travelling to Saudi Arabia this weekend along with the City of London’s Lord Mayor – but have denied that persuading oil giant Saudi Aramco to list in London will be on the agenda.

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Hong Kong City

Bloomberg - Hong Kong regulator IPO warning

The enforcement chief of Hong Kong’s securities regulator said some sponsors of initial public offerings in the city have been “extremely reckless,” signaling more penalties to come after the regulator slapped a ban on UBS’s local unit this month.

UBS sign

Reuters - Business as usual at UBS

UBS has told staff that it is “business as normal”, after the Swiss bank revealed on Friday it is fighting an 18-month suspension in Hong Kong from leading initial public offerings (IPOs).