Hong Kong's Securities and Futures Commission banned a former vice president of Bank of Communications from re-entering the industry for life due to bribery charges.
Ye Feng was found guilty of soliciting illegal commissions while handling securities transactions for clients of Bank of Communications. Ye pocketed HK$919,120 ($117,000) from a client who paid him for profits generated through Hong Kong stock trades.
«The SFC considers that Ye is not a fit and proper person to be licensed or registered to carry on regulated activities as a result of his criminal conviction,» the statement said.
Ye was convicted of two counts of bribery at a Hong Kong court in late August this year. He was sentenced to 17 months of imprisonment and ordered to repay HK$637,000 ($81,000) to Bank of Communications.
