SFC bans a former employee of HSBC for life

The Securities and Futures Commission (SFC) has banned Ms Chen Chia Hui, a former employee of The Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for life following her conviction for bribery.

The District Court found that Chen, a relationship manager of HSBC at the material time, accepted a secret commission in the sum of $500,000 on 9 February 2013 as compensation for recommending and selling to a HSBC customer an insurance policy issued by a competitor. Chen also did not make it clear to the customer that the insurance policy was not a product of HSBC which was to the detriment of the bank’s interests.

The SFC considers Chen is not a fit and proper person to be licensed or registered to carry on regulated activities as a result of her conviction.

The case was referred to the SFC by the Hong Kong Monetary Authority.

For the full announcement, click here.

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SFC bans a former employee of HSBC for life


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