Hong Kong’s market regulator proposed to tighten rules for brokerages handling stock and bond sales to clamp down on inflated orders and the chase after higher fees in the Asian financial hub. In a consultation for feedback from the financial industry, the Securities and Futures Commission, called on fixing syndicate memberships and fees at an earlier stage, as well as limiting a growth in discretionary fees over fixed payments. It proposed that at least one of the lead underwriters in an initial public offering should also act as a sponsor and be held legally responsible for due diligence to align costs and incentives, according to a report. The move comes amid a boom in deals in the city,
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