Hong Kong's Securities And Futures Commission Bans Ho Wing Kin For Life

The Securities and Futures Commission (SFC) has banned Mr Ho Wing Kin from re-entering the industry for life (Note 1).

The disciplinary action follows Ho’s conviction for misappropriating around $1.3 million from three customers’ accounts by forging their signatures (Note 2).

In deciding the penalty, the SFC took into account that misappropriation and forgery are serious and dishonest acts. The SFC concluded that Ho is not a fit and proper person to be licensed.

The victims in this case were elderly customers who have subsequently been compensated.

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

End

Notes:

1. Ho was a relevant individual engaged by Wing Hang Bank, Limited at the material time to carry on Type 1 (dealing in securities) and Type 9 (asset management) regulated activities under the Securities and Futures Ordinance. Ho is currently not registered with the HKMA or licensed by the SFC.
2. Ho was convicted of five charges of theft. On 10 August 2011, he was sentenced to imprisonment of 26 months. Please see the Reasons for Sentence dated 10 August 2011 which is available on the judiciary website at http://www.judiciary.gov.hk.