.jpg)
The Securities and Futures Commission (SFC) has banned Mr Mok Kin Hung from re-entering the industry for life (Note 1).
On 11 August 2009, the Eastern Magistrates’ Court sentenced Mok to imprisonment of 14 months following conviction on one count of theft.
The Court found that, in July 2009, Mok stole $280,000 from a client bank account which he serviced at Dah Sing Bank, Limited (Dah Sing Bank) by forging the client’s signature on two separate transfer slips. This resulted in an unauthorized transfer of $280,000 from the client’s bank account to Mok’s own bank account at Dah Sing Bank via a third party account.
The theft was discovered by Dah Sing Bank and the stolen funds were returned to the client.
The SFC considers Mok not a fit and proper person to be licensed as a result of his conviction. In deciding the penalty, the SFC took into account that Mok’s conduct was dishonest.
The case was referred to the SFC by the Hong Kong Monetary Authority.
Note:
- Mok was a relevant individual engaged by Dah Sing Bank, Limited to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities under the Securities and Futures Ordinance from March 2008 to July 2009. Mok is currently not registered with the Hong Kong Monetary Authority or licensed by the SFC.
