The Hong Kong Securities and Futures Commission (SFC) has announced that Mr Mok Kin Hung, a former employee of Dah Sing Bank, Limited, has been banned from re-entering the industry for life. Mr Mok was previously a relevant individual engaged by Dah Sing Bank to carry out the regulated activities of dealing in securities and advising on securities.

Mr Mok was sentenced to 14 months imprisonment on 11 August 2009 following his conviction of one count of theft after the court found that in July 2009 Mr Mok stole HK$280,000 from a client bank account which he serviced at Dah Sing Bank by forging the client’s signature on two separate transfer slips. This resulted in an unauthorised transfer of HK$280,000 from the client’s bank account to Mr Mok’s own bank account at Dah Sing Bank via a third party account. The theft was discovered by Dah Sing Bank and the stolen funds were returned to the client. The case was referred to the SFC by the Hong Kong Monetary Authority.

The SFC stated that it considered that Mr Mok is not a fit and proper person to be licensed as a result of his conviction. In deciding the penalty, the SFC took into account that Mr Mok’s conduct was dishonest.

The SFC’s press release is available.

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=13PR63