The Hong Kong Securities and Futures Commission has prohibited Andy Lau Ka Ho, a former licensed representative of Sun Hung Kai Investment Services Limited, Sun Hung Kai Commodities Limited and SHK Fund Management Limited, from re-entering the industry for life for serious misconduct involving unauthorised trading and deception of a client. The action followed an investigation triggered by a joint self-report from the firms. Between September 2014 and May 2019, Lau conducted unauthorised trades and online trading in a client’s securities trading accounts, fabricated trading instructions by sending emails from the client’s account to his office email, and provided forged account statements and summary reports containing false information, often significantly overstating cash balances and net portfolio values. He also allegedly prevented a cash withdrawal by falsely claiming a 3.94% annual interest rate on a three-month $59 million deposit and providing a forged certificate of deposit confirmation. The SFC found the conduct to be blatantly dishonest, in serious breach of the Code of Conduct and incompatible with being fit and proper, noting the misconduct persisted for over five years. The Sun Hung Kai entities are now known as Everbright Securities Investment Services (HK) Limited, CES Commodities (HK) Limited and Bright Fund Management Limited, and Lau is currently not licensed by the SFC or registered with the Hong Kong Monetary Authority.

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