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The HKMA suspends SO Yiu Wing and NG Chun Mi

The Hong Kong Monetary Authority (HKMA) has suspended the relevant particulars1 of Mr SO Yiu Wing and Mr NG Chun Mi from the register maintained under Section 20(1)(ea) of the Banking Ordinance for one month from 23 September 2011 to 22 October 2011.

The disciplinary actions follow an investigation by the HKMA, which discovered that Mr SO and Mr NG intentionally circumvented their employer’s internal procedures to cover their mistakes in April 2007 by causing other clients to take up their error trades2.

In deciding the disciplinary sanction, the HKMA has taken into account that the clients involved suffered no or an insignificant amount of financial loss and both Mr SO and Mr NG have clean disciplinary records.

Hong Kong Monetary Authority
23 September 2011

Notes:

  1. At the material time, Mr SO’s and Mr NG’s names were included in the register maintained by the HKMA under Section 20(1)(ea) of the Banking Ordinance as persons engaged by Fubon Bank (Hong Kong) Limited to conduct Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities.
  2. “Error trades” refer to transactions wrongly executed in price, share quantity or BUY/SELL orders.
Last revision date: 23 September 2011
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