Hong Kong's Securities And Futures Commission: Licence Applicant Convicted Of Providing False Information To SFC

The Eastern Magistrates’ Court today convicted Mr Chiu Sing Ho of making false or misleading representations in his two licence applications to the Securities and Futures Commission (SFC).

Chiu was fined $10,000 and ordered to pay the SFC’s investigation costs after pleading guilty.

The SFC found that, in November 2012 and December 2014, Chiu did not disclose to the SFC his previous criminal conviction in two licence applications (Note 1).

The SFC expects applicants to make full and accurate disclosure of all information required in a licence application. Failure of applicants to do so might affect their fitness and properness to be licensed.

Note:

1. Pursuant to section 383 of the Securities and Futures Ordinance, applicants are required to disclose all prior criminal convictions, including those which the Rehabilitation of Offenders Ordinance (Cap 297) applies to, disciplinary sanctions in relation to any trade, business or profession and whether they have been investigated by a local or foreign regulatory or criminal investigatory body.