The Securities and Futures Commission (SFC) has banned Mr Poon Ming Pui from re-entering the industry for 10 months from 9 January 2014 to 8 November 2014 (Note 1).
The disciplinary action follows an SFC investigation which found that between June 2005 and April 2011, Poon conducted personal trading activities through securities accounts of others, and concealed his beneficial interests in and his personal trading activities conducted through these securities accounts from his then employers.
No client suffered any loss as a result of these activities. Nonetheless, it is plainly dishonest for a licensee to hide his own trading activities in the accounts of others.
The SFC considers Poon’s misconduct called into question his fitness and properness as a licensed person. In deciding the sanction, the SFC took into account all relevant circumstances including Poon’s misconduct lasted for more than five years; Poon’s admission and co-operation with the SFC’s investigation, and his otherwise clean disciplinary record.
Notes:
- Poon was licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) regulated activities and was accredited to China International Capital Corporation Hong Kong Securities Limited from 5 October 2005 to 3 June 2009, China International Capital Corporation Hong Kong Asset Management Limited from 6 June 2008 to 20 June 2009, and Yuanta Securities (Hong Kong) Company Limited from 6 August 2009 to 21 April 2011. Poon is currently not accredited to any licensed corporation.
- A copy of the Statement of Disciplinary Action in relation to the matter is available on the SFC website.
