Hong Kong Securities And Futures Commission Suspends Sandra Cheung Wing Yi For 12 Months

The Securities and Futures Commission (SFC) has suspended the licence of Ms Sandra Cheung Wing Yi, former licensed representative of Mason Securities Limited (MSL), for 12 months from 28 October 2020 to 27 October 2021 (Notes 1 & 2).

The disciplinary action follows an SFC investigation which found that between November 2014 and July 2017, Cheung failed to obtain approval to maintain a securities trading account with an external brokerage firm and conducted 66 personal trades in the aforesaid account, in breach of MSL’s internal control policies.

She also provided false and misleading declarations to MSL by declaring on multiple occasions that she did not have any personal trading accounts with other licensed corporations.

In doing so, Cheung breached MSL’s internal control policies and her conduct deprived MSL the opportunity to effectively and actively monitor and review employee trading activities in order to protect the integrity of the market.

The SFC considers that Cheung’s conduct, which was wilful and dishonest, calls into question her fitness and properness to be a licensed person.

In determining the sanction against Cheung, the SFC took into account all relevant circumstances, including her remorse and cooperation in resolving the SFC’s concerns, and her otherwise clean disciplinary record.

Notes:

1. Cheung is licensed as a representative under the Securities and Futures Ordinance to carry on Type 1 (Dealing in Securities) regulated activity and was accredited to MSL from 13 November 2014 to 16 September 2018.
2. MSL was formerly known as GuocoCapital Limited until 25 February 2016.