The Hong Kong Securities and Futures Commission (SFC) has prohibited Cheng Lai Ho, a former relevant individual of Bank of Communications Co., Ltd. and Bank of Communications (Hong Kong) Limited (BOCOM), from re-entering the industry for seven months from 27 October 2025 to 26 May 2026 following an investigation into breaches of BOCOM’s staff dealing controls. Between April 2017 and April 2022, Cheng failed to disclose multiple personal securities trading accounts held in his own name at other financial institutions. Between August 2017 and April 2022, he also opened and maintained a securities margin account at an external brokerage firm in his mother’s name and executed over 260 personal trades through it, without disclosing his interest, reporting the trades, providing account statements to BOCOM, or complying with BOCOM’s minimum holding period before selling shares. He further falsely declared compliance with the firm’s staff dealing policy on eight occasions; the SFC assessed the concealment as wilful and dishonest and concluded the conduct called into question his fitness and properness, while taking into account the duration of the misconduct, his cooperation, and an otherwise clean disciplinary record.
Hong Kong Securities & Futures Commission 2025-10-27
Hong Kong Securities and Futures Commission bans Cheng Lai Ho for seven months over undisclosed personal trading accounts
The Hong Kong Securities and Futures Commission has banned Cheng Lai Ho, a former Bank of Communications employee, from the industry for seven months due to breaches of staff dealing controls. Cheng failed to disclose personal securities accounts and executed trades through a margin account in his mother's name without proper reporting. The SFC deemed his actions wilful and dishonest, questioning his fitness and properness despite his cooperation and clean disciplinary record.