Hong Kong SFC Bans Chan Hau Wing Over Unauthorized Trades

[kreslik.news]

Hong Kong’s Securities and Futures Commission (SFC) has banned Chan Hau Wing, a licensed employee at Xiu Futures Company Limited, from re-entering the industry for two years for conducting unauthorized trades in a client’s account, according to a SFC statement.

The disciplinary action follows an SFC investigation which found that a client of Yue Xiu Futures has telephoned and instructed Chan to buy 13 futures contracts in crude oil but he mistakenly placed a sell order. Instead of reporting the matter to the company’s management, Chan sought to reduce the loss by trading in the client’s account without any proper authorization.

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