Hong Kong SFC Bans Trader over Directing Clients Account without POA

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Hong Kong SFC Bans Trader over Directing Clients Account without POA

Postby kreslik.news » Tue Feb 23, 2016 11:49 am


The Hong Kong Securities and Futures Commission (SFC) announced today that it has banned Jia Zhen for a period of 10 months over carrying out transactions in a client’s account without obtaining the proper written authorization – such as a power of attorney (POA) or in the case of SFC rules a discretionary broking authorization.

The regulator said that the former account executive was a Marketing Development Manager of China Merchant Securities (HK) Co. Limited (CMSHK) and is banned from entering the industry effective from February 20th 2016 through to December 19th of this year, and cited SFC’s conduct rules notes 1 ... (read more)

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