Hong Kong's Securities And Futures Commission Bans Chan Ka Chun For Life

The Securities and Futures Commission (SFC) has banned Mr Chan Ka Chun from re-entering the industry for life (Note 1).

On 22 January 2013, Chan was sentenced by the District Court to imprisonment of 23 months on one count of conspiracy to make false instruments.

The court found that between July 2009 and February 2010, Chan, an Associate Director at Falcon Private Bank Ltd., Hong Kong Branch (FPBHK), conspired with two clients to issue four false letters on FPBHK’s letterhead showing proof of funds and credit facilities purportedly made available by FPBHK for the use of the two clients. The proof of funds and availability of credit facilities to the two clients were not authorized by FPBHK and were false (Note 2).

The SFC considers Chan not a fit and proper person to be licensed as a result of his conviction. 

The case was referred to the SFC by the Hong Kong Monetary Authority. 

Notes:

1. Chan was a relevant individual engaged by Falcon Private Bank Ltd., Hong Kong Branch to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities under the Securities and Futures Ordinance from February 2007 to February 2010. Chan is currently not registered with the Hong Kong Monetary Authority or licensed by the SFC.
2. The Reasons for Sentence are available on the judiciary website at www.judiciary.gov.hk (Case No: DCCC 1271/2011 & 811/2012).