The Hong Kong Securities and Futures Commission has prohibited Tong Ho Yin, a former responsible officer of HF Asset Management Limited, from re-entering the industry for nine years from 16 July 2025 to 15 July 2034 and imposed a HKD 350,000 fine. The action follows findings that, during his tenure, the firm failed to act in the best interests of a fund it managed and failed to properly manage conflicts of interest in loan and stock lending arrangements. The misconduct related to three separate agreements entered into between May 2017 and December 2018, all of which ultimately defaulted and led to losses of HKD 25.6 million, equal to 86% of the fund’s net asset value. The SFC attributed HF Asset Management’s recurrent failures to Tong’s failure to discharge his duties as a responsible officer and senior manager, and noted that the fine would have been HKD 700,000 but for his financial position; Tong is currently not licensed by the SFC.
Hong Kong Securities & Futures Commission 2025-07-16
Hong Kong Securities and Futures Commission bans ex-HF Asset Management responsible officer Tong Ho Yin for nine years and fines him HKD 350,000
The Hong Kong Securities and Futures Commission has banned Tong Ho Yin, former responsible officer of HF Asset Management Limited, from the industry for nine years and fined him HKD 350,000. This enforcement action follows findings of mismanagement and conflicts of interest in loan and stock lending arrangements, resulting in losses of HKD 25.6 million. The fine was reduced from HKD 700,000 due to Tong's financial position.