Hong Kong SFC bans former account executive of China Pacific Securities Ltd for life

The Securities and Futures Commission (SFC) announced the ban of former account executive of China Pacific Securities Limited (China Pacific), Mo Shau Wah, from re-entering the industry for life after a criminal conviction.

In December 2018, the Court of First Instance found Mo guilty of misappropriating around $110.2 million worth of shares from China Pacific’s clients from January 2005 to October 2012.

sfc bans

The former account executive sold, without authorization, stolen shares on the open market. She used a nominee client accounts held at China Pacific in the names of her family members. Afterwards, the earnings were paid into the relatives’ bank accounts over which Mo had control.

Mo also conspired with a former settlement clerk of China Pacific, Hui Fong Ting, to cover up the theft with false entries Hui created in company’s computer system and client statements.

As a result of her criminal conviction, the SFC considers Mo to be unfit for a license to carry on regulated activities.

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