Hong Kong's Securities and Futures Commission Bans former HSBC Adviser for Life

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Thursday, April 21, 2016 11.25AM / Mondo

The Securities and Futures Commission (SFC) has prohibited Mr Andrew Chow Ho Cheung from re-entering the industry for life following his conviction for offences of fraud and theft under the Theft Ordinance. Chow was sentenced to two years imprisonment by the District Court on 19 May 2015 (Notes 1 & 2).

At the material time, Chow was responsible for introducing and selling investment products to customers of The Hong Kong and Shanghai Banking Corporation Limited (HSBC). The District Court found that Chow:

         forged the signatures of a number of customers on bank documents;

         changed the subscription fee rates on subscription forms without the knowledge and agreement of a client; and

         made unauthorized payments and withdrawals to and from a number of customers’ accounts.


The SFC considers Chow is not a fit and proper person to be licensed or registered to carry on regulated activities as a result of his convictions.

 

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

Notes:

1. Chow was a relevant individual engaged by HSBC to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities under the Securities and Futures Ordinance. Chow is currently not registered with the Hong Kong Monetary Authority or licensed by the SFC.

2. The “Reasons for Sentence” (Case No: DCCC 198/2015) is available on the Judiciary’s website .
 

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