The Securities and Futures Commission (SFC) has banned Mr Kwok Chau Mo, a former fund manager of Guosen Securities (HK) Asset Management Company Limited (GSHKAM), for nine months from 28 May 2020 to 27 February 2021 (Note 1).
The disciplinary action follows an SFC investigation which found that Kwok breached the trading policies of GSHKAM when he was an employee of the firm between 10 April 2012 and 23 May 2017 by concealing from his employer his beneficial interests in and/or direct control or influence over two securities trading accounts held by a friend and an acquaintance at an external brokerage firm, and his trading activities in them.
The SFC considers that Kwok’s conduct in circumventing the internal control policies of GSHKAM was dishonest and deliberate, calling into question his fitness and properness to be a licensed person.
In deciding the sanction against Kwok, the SFC took into account all relevant circumstances, including his remorsefulness and admission of wrongdoing, and his otherwise clean disciplinary record.
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Note:
- Kwok was licensed as a representative to carry on Type 4 (advising on securities), Type 5 (advising on futures contracts) and Type 9 (asset management) regulated activities under the Securities and Futures Ordinance, and was accredited to GSHKAM between 10 April 2012 and 23 May 2017. Kwok is currently not licensed by the SFC.
