The Hong Kong Securities and Futures Commission has prohibited an employee of HSBC from re-entering the industry.
For transferring client data for purposes other than for which the data was collected, in breach of the Code of Conduct and the Personal Data (Privacy) Ordinance, Yeung Chun Him, has been banned from re-entering the industry from 6 May 2016 to 5 May 2017.
At the time of the offences Yeung was an Associate Portfolio Manager of Hong Kong and Shanghai Banking Corporation responsible for opening accounts for small and medium-sized enterprise clients and promoting investment and insurance products.
Client Data From Personal Email
The Securities and Futures Commission (SFC) found that on his last working day with HSBC on 13 December 2013, he sent data concerning 1,540 customers (Client Information) from his HSBC email to his personal email.
Yeung then sent the Client Information from his personal email to his email at China Construction Bank (CCB) on the first day of his new job on 16 December 2013. In the new role Yeung would be serving similar corporate clientele at CCB and he considered that the Client Information would facilitate his new job.
Not a Fit and Proper Person
The SFC considered that Yeung’s conduct called into question his fitness and properness to remain a licensed or registered person. Upon the request of HSBC, CCB deleted the emails attaching the Client Information from its email server.
Yeung is currently not registered with the Hong Kong Monetary Authority or licensed by the SFC.
