.jpg)
The Securities and Futures Commission (SFC) has banned Mr Ma Sin Chi, a former responsible officer of Deutsche Securities Asia Limited (DSAL), from re-entering the industry for life (Note 1).
In February 2018, the Court of First Instance convicted Ma of accepting bribes of around $6.4 million from his client as rewards for providing information and assistance to the client and the client’s family in their trading of Deutsche Bank AKTIENGESELLSCHAFT-issued derivative warrants with DSAL being the liquidity provider (Notes 2 & 3).
The SFC considers that Ma was guilty of misconduct and is not a fit and proper person to be licensed to carry on regulated activities.
Notes:
- Ma was licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities), Type 2 (dealing in futures contracts), Type 4 (advising on securities) and Type 5 (advising on futures contracts) regulated activities. Ma was accredited to DSAL as a responsible officer between 20 April 2010 and 6 January 2012. Ma is currently not licensed by the SFC.
- Ma pleaded guilty to one count of, being an agent, accepting an advantage contrary to section 9(1)(a) of the Prevention of Bribery Ordinance. He was sentenced to 45 months’ imprisonment and ordered to pay $6,391,758 to Deutsche Bank AKTIENGESELLSCHAFT by way of restitution on 26 February 2018.
- Please see the Reasons for Sentence (Case No: [2018] HKCFI 438) which is available on the Judiciary’s website (www.judiciary.gov.hk).
