Aggregated News From Investment Management Regulators

SFC bans Kwok Chau Mo for nine months

Report/Flag

Please complete the required fields.



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.

End

Note:

  1. 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.

Source link

Regulator Information

Abbreviation: SFC
Jurisdiction: Hong Kong

Recent Articles

Proposed Rule Change to Amend FINRA Rule 2231 (Customer Account Statements)

Financial Industry Regulatory Authority, Inc.

Revision of Recommendation 25 – White Paper for Public Consultation

The Financial Action Task Force (FATF) is conducting a review of Recommendation 25 (R.25) on the transparency and beneficial ownership (BO) of legal arrangements....

ASIC warns super trustees to be transparent in their underperformance communications to members

ASIC today released the findings from its review of superannuation trustees’ communications with their members following the first annual performance test for MySuper products. The...

EBA replies to European  Commission’s call for advice on the Mortgage Credit Directive review

The European Banking Authority (EBA) published today an Opinion and Report in response to the European Commission’s Call for Advice (CfA) on the review of the Mortgage Credit Directive (MCD) .

Get the latest from Regulatory.News in your inbox!

×