The Securities and Futures Commission (SFC) has banned Ms Chan Tan Lo, a former relationship manager of BOCI Securities Limited (BOCIS), for 14 months from 19 March 2020 to 18 May 2021 (Note 1).
An SFC investigation found that when Chan executed nine bond transactions for two clients in March 2016, she failed to disclose and/or provided them with inaccurate information about the final execution prices and/or the actual commission rates she charged them. She also overcharged them in these transactions.
The SFC considers that Chan’s conduct was dishonest and calls into question her fitness and properness to be a licensed person.
In deciding the sanction against Chan, the SFC took into account all relevant circumstances, including her remorse and her otherwise clean disciplinary record.
Note:
- Chan was licensed as a representative to carry on Type 1 (dealing in securities) and Type 2 (dealing in futures contracts) regulated activities under the Securities and Futures Ordinance, and was accredited to BOCIS between 13 May 2004 and 11 April 2016. Chan is currently not licensed by the SFC.
A copy of the Statement of Disciplinary Action is available on the SFC website
