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Joint SFC/HKMA enforcement action - SFC bans Hung Sum Yee from re-entering the industry

The SFC has banned Ms Hung Sum Yee from re-entering the industry for five months from 22 August 2007 to 21 January 2008 (Note 1).

The disciplinary action follows an investigation by the Hong Kong Monetary Authority (HKMA) into Hung's alleged acceptance and mishandling of investment order forms and time deposit forms that were signed by clients but were otherwise left blank.

The investigation further revealed that Hung also engaged in joint securities trading activities with another colleague without disclosing the trading to her employer.

Hung's conduct exposed her clients to unnecessary risks and misled her employer.

Ends

Notes:

  1. Hung was an individual whose name was entered in the register maintained by the Hong Kong Monetary Authority under section 20 of the Banking Ordinance as a person engaged by Hang Seng Bank Limited in respect of Type 1 (dealing in securities), Type 4 (advising on securities) and Type 7 (providing automated trading services) regulated activities, and so was a regulated person under section 196 of the Securities and Futures Ordinance.
  2. For inquiries, please contact Cindy Tam or Irene Wong of the SFC at 2842 7733 and 2840 9261 respectively or Thomas Chan of the HKMA at 2878 1480.
Last revision date: 1 August 2011
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