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SFC bans Chan Ka Hey for 6 months

Issue date: 2022-07-28 16:30:46

The Securities and Futures Commission (SFC) has banned Mr Chan Ka Hey, a former relevant individual of Standard Chartered Bank (Hong Kong) Limited (SCBHK), from re-entering the industry for six months from 28 July 2022 to 27 January 2023 (Note 1).

The SFC’s disciplinary action follows a referral by the HKMA.  The HKMA’s investigation, which stemmed from a self-report by SCBHK, found that Chan had cut and pasted a customer’s signature onto a direct debit authorisation form to deceive SCBHK and an insurance company into believing that the form was signed by the customer.

In April 2021, the HKMA issued a decision to suspend Chan from the industry for the above misconduct but Chan ceased to be registered as a relevant individual with the HKMA in May 2021 before the HKMA’s disciplinary decision could take effect.  As the statutory power to discipline a former relevant individual rests with the SFC, the HKMA referred the case to the SFC for appropriate action.

The SFC considers that Chan is not fit and proper to be a regulated person as his conduct casts doubt on his reliability and ability to carry on regulated activities honestly.

In deciding the sanction, the SFC took into account all relevant circumstances, including Chan’s otherwise clean disciplinary record.

End

Note:

1. Chan was a relevant individual employed by SCBHK from 17 March 2015 to 8 July 2018, and by The Hongkong and Shanghai Banking Corporation Limited from 3 October 2018 to 7 May 2021, to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities under the Securities and Futures Ordinance.  Chan is currently not registered with the Hong Kong Monetary Authority (HKMA) or licensed by the SFC.

Source: SFC