The Hong Kong regulator has taken action against a former financial planning manager, banning him from the industry. Although only the second week of the year the SFC has been called into action on four occasions.
The Securities and Futures Commission (SFC) has acted against Choi Siu Ki banning him from entering the market for nine months. Choi a former financial planning manager of Dah Sing Bank in Hong Kong was banned from re-entering the industry from 7 January 2017 to 6 October 2017.
The SFC found that in August 2015, Choi forged a customer’s signatures on two insurance application documents in order to submit the documents in time before deadline.
Forged Signatures Discovered
Choi’s forgery came to light after the client made a complaint with Dah Sing Bank upon discovery of forged signatures of hers in a copy of the approved insurance application document she received for retention.
In May 2016 Choi was prosecuted for two counts of forgery under the Crimes Ordinance after he appeared before the Eastern Magistrates’ Courts. However the prosecution offered no evidence against him and he was bound over in the sum of $2,000 for 12 months.
The SFC considers that Choi is not a fit and proper person to be licensed or registered to carry on regulated activities as a result of his forgery.
