SFC fines a former account executive of KGI Asia Limited (KGI)

Content of Penalty:

The Securities and Futures Commission (SFC) has reprimanded Mr Lau Ki Fung, a former account executive of KGI Asia Limited (KGI), and fined him $80,000 for failing to keep proper records of order instructions from clients (Notes 1 & 2).

The SFC found that between 29 July 2015 and 10 August 2015, Lau received 156 order instructions from four clients on mobile phone or during meetings outside KGI’s office and failed to use a telephone recording system to record these order instructions as required by the Code of Conduct and KGI’s internal requirements (Note 3).

In deciding the disciplinary action against Lau, the SFC took into account all relevant circumstances, including Lau’s remorse and acceptance of his failure, as well as his otherwise clean disciplinary record.

Date: 13/06/2018
Amount: 80000.00
Link: http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=18PR65