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SFC bans Lo Wai Ming for seven months

Issue date: 2023-09-18 16:35:35

The Securities and Futures Commission (SFC) has prohibited Mr Lo Wai Ming, a former responsible officer (RO) of Taiping Securities (HK) Co Limited (TSCL), from re-entering the industry for seven months from 16 September 2023 to 15 April 2024 (Note 1).

The disciplinary action follows an SFC investigation which found that between 2 January 2018 and 28 September 2018, Lo had, unbeknownst to TSCL, logged into two clients’ internet trading accounts and placed orders for them.  As a result, trades in the clients’ accounts were effectively disguised as if they have been placed by the clients themselves.

Lo had also failed to maintain proper records of the order instructions from the two clients.

By doing so, his conduct circumvented TSCL’s internal policies and prevented it from properly monitoring the operation of the two clients’ accounts. 

In deciding on the sanction, the SFC has taken into account all relevant circumstances, including the duration of Lo’s misconduct and his otherwise clean disciplinary record.

End

Note:

1. Lo was accredited to TSCL and approved to act as its RO for Type 1 (dealing in securities) regulated activity between 25 June 2008 and 23 April 2019.  He is currently not licensed by the SFC.

News captured as of:2023-09-18 16:35:35

Source: SFC