The Securities and Futures Commission (SFC) has prohibited Ms Sun Yiding from re-entering the industry for eight months from 15 December 2022 to 14 August 2023 (Note 1).
The disciplinary action follows an SFC investigation, which found that between July 2019 and July 2020, Sun failed to obtain her then employer’s approval to open a securities trading account with an external brokerage firm and conducted 829 personal trades in the account unbeknownst to it. She also traded in three stocks on her then employer’s restricted list and sold certain stocks within 30 days of purchase without its pre-approval.
In the circumstances, Sun’s conduct circumvented her then employer’s employee trading policy and prevented it from monitoring her personal trading activities.
The SFC considers that Sun’s conduct, which is dishonest, calls into question her fitness and properness to be a licensed person.
In deciding the sanction against Sun, the SFC has taken into account all relevant circumstances, including:
- her misconduct lasted for one year and involved 829 securities transactions;
- her remorse and cooperation in resolving the SFC’s concerns; and
- her otherwise clean disciplinary record.
Note:
- Sun was accredited to China International Capital Corporation Hong Kong Securities Limited and licensed to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities under the Securities and Futures Ordinance from 14 February 2018 to 10 June 2021. Sun is currently not licensed by the SFC.
A copy of the Statement of Disciplinary Action is available on the SFC website
