A former associate director of UBS’ Hong Kong branch has been banned for life for taking bribes.
Tu Bing, former associate of UBS AG, Hong Kong Branch, will not be allowed to ever reenter the industry for taking «illegal commission payments» of around 1.4 million Hong Kong dollars ($180,000) from local stock trading gains made by a client.
«The SFC considers that Tu 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 regulator declared adding that the case was referred by Hong Kong Monetary Authority (HKMA).
The statement added that a district court had already concluded the case in October 2017 and delivered a 3.5-year jail sentence in November 2017.
