HK SFC bans former China Tonghai Securities representative for 20 months

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/04/SFC-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Hong Kong regulator SFC" style="float: left; margin-right: 5px;" link_thumbnail="" loading="lazy" srcset="https://www.leaprate.com/wp-content/uploads/2022/04/SFC-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/04/SFC-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/04/SFC-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/04/SFC-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/04/SFC-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/04/SFC-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/04/SFC.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>SFC stated in the official announcement:</p>
<blockquote><p>The investigation also revealed that Poon failed to take reasonable steps to establish three clients’ financial situations and investment experience during account opening between May 2019 and February 2020.</p></blockquote>
<blockquote><p>The SFC considers that Poon has also failed to act with due skill, care and diligence, and in the best interests of the clients when carrying on business activities.</p></blockquote>
<p>The regulator noted that in its disciplinary decision, it took into account Poon’s cooperation in resolving the <a target="_blank" href="https://www.leaprate.com/forex/regulations/hong-kongs-sfc-issues-restriction-notice-on-suspected-ramp-and-dump-scam/" rel="noopener">SFC</a>’s concerns and his otherwise clean disciplinary record.</p>
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