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SFC bans Poon Chun Hing for life

Issue date: 2021-12-02 16:30:00

The Securities and Futures Commission (SFC) has banned Mr Poon Chun Hing from re-entering the industry for life (Note 1).

The disciplinary action follows an SFC investigation which found that, between May 2015 and September 2017, Poon offered to invest in securities and futures for two students of financial planning or accounting courses that he taught.  They accepted Poon’s offer and deposited an aggregate sum of $160,000 into his personal bank account after entering into agreements with him.

In January 2019, following the expiry of the agreed investment periods, they requested Poon for immediate repayment of their original investment and profits, but he did not respond to their requests.

The SFC’s investigation found Poon had misappropriated the funds for his personal use.

The SFC considers that Poon is not a fit and proper person to be licensed to carry on regulated activities (Note 2).

End

Notes:

1. Poon was licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) regulated activities and was accredited to various licensed corporations between 2005 and 2017.  He is currently not licensed by the SFC.
2. Poon had been previously disciplined by the SFC and banned from re-entering the industry for 30 months from 18 July 2018 to 17 January 2021.  Please see the SFC’s press release dated 18 July 2018 for further details.

News captured as of:2021-12-02 16:30:01

Source: SFC