Tag: Hong Kong Securities and Futures Commission

Hong Kong Securities and Futures Commission

HSBC Broker Banned by Hong Kong Regulator

A former broker at HSBC Broking has been banned for life by Hong Kong’s Securities and Futures Commission (SFC) after he illegally used clients’ accounts for trading in futures markets, including FX contracts.
SFC says an investigation into activities by Lam Yuk Wai found that between September 2011 and July 2015, he had conducted over 100 unauthorised transactions in the accounts of seven clients, causing them to suffer substantial losses.
It also finds that Lam deceived his clients by providing them with false and misleading account information.