The Securities and Futures Commission (SFC) has banned Mr Wong Chun Yin, a former relationship manager of Standard Chartered Bank (Hong Kong) Limited (SCBHK), from re-entering the industry for life (Note 1).
The SFC found that, between October 2011 and May 2012, Wong effected fund transactions in clients’ accounts without their authorization to meet his sales targets and tried to conceal his misconduct by tampering with one client’s contact information.
Wong also falsified client instructions for the transactions by misleading the clients into signing fund order forms which were blank or with essential instruction particulars missing from the forms.
The SFC found that Wong’s dishonest conduct was not in the best interests of clients and was in breach of the SFC’s Code of Conduct. The SFC concluded Wong is not a fit and proper person to be licensed (Note 2).
The case was referred to the SFC by the Hong Kong Monetary Authority. The affected clients have been made whole by SCBHK.
Notes:
- Wong was a relevant individual engaged by SCBHK to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities under the Securities and Futures Ordinance from September 2009 to June 2012. Wong is currently not registered with the Hong Kong Monetary Authority or licensed by the SFC.
- Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission
