The Securities and Futures Commission (SFC) has banned Mr Calvin Ho Kei Him, a former research associate at Morgan Stanley Asia Limited, from re-entering the industry for 14 months from 12 March 2013 to 11 May 2014 (Note 1).
The disciplinary action follows an SFC investigation into Ho’s conduct which found that, between 2009 and 2011, Ho had:
- failed to identify and disclose to his employer all securities accounts related to him and the stock trading activities conducted through these accounts;
- failed to take adequate steps to avoid conflicts of interest between the stock trading activities in the securities accounts related to him and his employment as a research associate; and
- made false and/or misleading declarations in relation to outside securities accounts related to him.
The SFC considers Ho’s misconduct called into question his fitness and properness as a licensed person. In deciding the sanction, the SFC took into account:
- candid disclosure is fundamental to the character of a licensed representative;
- avoidance of conflicts is a primary duty of a research analyst;
- Ho’s clean disciplinary record; and
- he co-operated in resolving these disciplinary proceedings.
End
Notes:
- Ho was licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities between November 2009 and November 2011, during which he was accredited to Morgan Stanley Asia Limited. He is currently not a licensed person.
- A copy of the Statement of Disciplinary Action in relation to the matter is available on the SFC’s website.
