SFC bans a former investment consultant of CICC for four months

The Hong Kong Securities and Futures Commission (SFC) announced that has prohibited Mr Xu Tao, a former investment consultant of China International Capital Corporation Hong Kong Securities Limited (CICC), from re-entering the industry for four months from 11 October 2017 to 10 February 2018 (Xu was licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities), Type 2 (dealing in futures contracts) and Type 4 (advising on securities) regulated activities and accredited to CICC between September 2008 and October 2015. Xu is currently not licensed by the SFC.).

The SFC found that Xu used his mobile phone and WeChat messaging application to accept order instructions from 13 clients between February and August 2015, in breach of the SFC’s Code of Conduct and the internal policies and procedures of CICC.

The SFC considers Xu’s breach of the Code of Conduct has called into question his reliability, reputation, and ability to carry out regulated activities competently, as well as his fitness and properness to be licensed.

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SFC bans a former investment consultant of CICC for four months


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