So Yiu-wing and Ng Chun-mi has been found to have intentionally circumvented Fubon Bank’s internal procedures to cover their mistakes in April 2007.
The Monetary Authority has suspended the relevant particulars of So Yiu-wing and Ng Chun-mi from the register maintained under Section 20(1)(ea) of the Banking Ordinance for one month from Friday.
Both men, who were engaged by Fubon Bank (Hong Kong) to deal in and advise on securities, intentionally circumvented their employer’s internal procedures to cover their mistakes in April 2007 by causing other clients to take up their error trades, according to a Monetary Authority report.
In deciding the disciplinary sanction, the authority has taken into account the fact the clients involved suffered no or an insignificant amount of financial loss and both men have clean disciplinary records.
Do you know more about this story? Contact us anonymously through this link.