Two Ex-HSBC Employees Jailed in Hong Kong for Sales Fraud

[kreslik.news]

Hong Kong’s Securities and Futures Commission (SFC) has banned two former employees of the Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for life for engaging in misleading sales practices with ‎respect to certain investment schemes, according to an SFC statement. ‎

In particular, the SFC disciplinary action stems from an investigation that found ‎evidence of wrongdoing between 2012 and 2014. The complaint alleges that throughout this period, Ms. Chau Hang Yu and Mr. Steve Chow Chun Yin were in charge of selling and promoting investment products at HSBC. To get higher commissions, the respondents made false and misleading ... (read more)