The Hong Kong Securities and Futures Commission (SFC) has released Statement of disciplinary action (undated) regarding the SFC's decision to ban China Everbright Securities (HK) Ltd (CES) account executive Koo Yiu Chee from re-entering the securities industry for eight months from 10 September 2013.
The Hong Kong (HK) Securities and Futures Commission (SFC) has announced that it has sanctioned China Securities Holdings Ltd (China Securities) and fined it HK$1.3 million following investigations which have found, among other things, that the company employed unlicensed dealing staff. The SFC has also banned former China Securities responsible officer Stephanie Liu for 27 months after finding that the company's failures were attributable to her.
The Hong Kong (HK) Securities and Futures Commission (SFC) has announced that it has brought proceedings in the Market Misconduct Tribunal (MMT) against Tiger Asia Management (Tiger Asia) and three of its officers regarding security dealings for Bank of China and Chian Construction Bank Corporation during 2008 - 2009.
The Hong Kong (HK) Securities and Futures Commission (SFC) has announced that it has fined Credit Suisse Securities (Hong Kong) Ltd (Credit Suisse) HK$1.6 million for three instances of holdings of "open positions in Industrial and Commercial Bank of China [Ltd] in breach of the prescribed position limit of 50,000 contracts" in 2011.
The Hong Kong (HK) Securities and Futures Commission (SFC) has announced that it has fined China Everbright Securities (HK) Ltd (CES) HK$1.2 million (approximately €118,000/US$155,000) for "internal control and supervisory failures" and CES responsible officer Chan Kam Hop HK$400,000 (approximately €4,000/US$5,200) for "supervisory and managerial failures".
The Hong Kong (HK) Securities and Future Commission (SFC) has announced a 30 month suspension and HK$500,000 fine for Sky Cheung Shi Gaii "for trading with a concealed securities account, putting himself in a conflict of interest position and making false and inaccurate declarations in a newspaper investment column".
The Hong Kong Securities and Futures Commission (SFC) has made available a statement of disciplinary action (undated) banning a former Morgan Stanley Asia Ltd research associate from the sector for over a year. The SFC found that Calvin Ho's trading and his work as a research analyst produced conflicts of interests which he "failed to take adequate steps to avoid", and also that he falsified or withheld declarations regarding his securities accounts. Regarding Mr Ho's case, the SFC stated that "avoidance of conflicts is a primary duty of a research analyst".
The Hong Kong (HK) Securities and Futures Commission (SFC) has announced that it has fined Deutsche Securities Asia Limited (DSAL) HK$2,500,000 "for regulatory breaches and internal control failings relating to position limit failures".
The Hong Kong Securities and Futures Commission (SFC) has announced that it has fined President Securities (Hong Kong) Limited (PS) HK$2 million for regulatory breaches in relation to handling Taiwanese clients' accounts.
The Hong Kong Securities and Futures Commission (SFC) has announced that the Eastern Magistracy has fined Finet Group Limited (Finet) and its former chairperson Yu Gang "for providing false or misleading information to the Stock Exchange of Hong Kong Limited". According to the SFC, Finet and Mr Gang failed to disclose in the company's quarterly report for the financial year 2009-10 that current Finet chairperson Lo Yuk Yee held an interest of approximately 20% of the company's issued shares as at 31 December 2009.
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