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The Securities and Futures Commission (SFC) has banned and fined two former representatives of United Simsen Securities for failing to take reasonable steps to avoid conflicts of interest, and for trading ahead of and on the basis of non-public information about a pending share acquisition of a client.
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Lam Chun Yin, a former officer of United Simsen, has been banned from re-entering the industry for 3 years. His subordinate, Yeung Chok Cheong, has also been banned from re-entering the industry, for 2 and a half years.
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