The Securities and Futures Commission (SFC) has suspended Mr Lo Tsz On for one year from 12 October 2016 to 11 October 2017 following his conviction for fraud (Notes 1 & 2).
The Magistrates’ Court found that Lo fraudulently presented three false entertainment claim forms to his then employer, Core Pacific-Yamaichi International (H.K.) Limited (CPY), in which he overstated the amount of money he had spent on team meals in 2012 and 2013. This caused CPY to reimburse $3,430 more to Lo than he had actually spent.
The SFC considers Lo’s conviction has called into question his fitness and properness as a licensed person.
The case was referred to the SFC by the Independent Commission Against Corruption.
Notes:
- Lo was licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities) regulated activity for Core Pacific-Yamaichi International (H.K.) Limited and Core Pacific-Yamaichi Securities (H.K.) Limited and Type 2 (dealing in futures contracts) for Core Pacific Yamaichi Futures (H.K.) Limited from June 2004 to January 2014. Lo is currently not accredited to any licensed corporation.
- The Eastern Magistrates’ Court sentenced Lo to a Community Service Order of 240 hours on 10 November 2015 following his conviction for three counts of fraud under the Theft Ordinance.
