Hong Kong's Securities and Futures Commission (SFC) has banned Lau Tin Yau, a former relationship manager of Standard Chartered Bank (Hong Kong) and former execution dealer of UOB Kay Hian (Hong Kong) Limited (UOB) and UOB Kay Hian Futures (Hong Kong) Limited (UOB Futures), from re-entering the industry for life.
This followed Lau's convictions under the Prevention of Bribery Ordinance (POBO) in May 2018 and the SFO in September 2020.
In May 2018, the Fanling Magistrates' Court found Lau, who was responsible for soliciting new customers and promoting investment products for SCBHK at the material time, guilty of offering a total of $1,000 to a colleague as reward for opening two customer accounts.
In September 2020, the Eastern Magistrates' Court found Lau guilty of providing false and misleading information to the SFC and failing to make timely report to the SFC of reportable events.
The SFC said it considered that Lau is not a fit and proper person to be licensed or registered to carry on regulated activities as a result of his criminal convictions.
The case was referred to the SFC by the HKMA.
