Hong Kong Securities and Futures Commission suspends former Yuanta representative Wong Tim Hi for nine months over unauthorized third party operation of client accounts

The Hong Kong Securities and Futures Commission has suspended the licence of former Yuanta Securities Hong Kong Company Limited representative Wong Tim Hi for nine months, from 3 July 2026 to 2 April 2027. The sanction follows the commission’s investigation into a market manipulation scheme involving shares of Ching Lee Holdings Limited and centers on Wong’s handling of four client accounts. Between June 2016 and May 2017, Wong allowed two third parties to be heavily involved in operating, or acting on behalf of, the accounts without obtaining written authorization from the clients. He also disclosed confidential client information to those third parties, including account and transaction details as well as information on fund movements and account balances. Although Wong said the clients had asked the third parties to assist with their trading accounts, he did not obtain or ensure written authorization to verify that authority. The commission said this breached Yuanta’s internal policies, failed to protect clients’ interests and called into question his fitness and properness to remain licensed. In setting the penalty, the commission took into account Wong’s remorse, his willingness to accept the disciplinary sanction and his otherwise clean disciplinary record. Wong is not a defendant in the related criminal proceedings or the commission’s separate section 213 action tied to the Ching Lee manipulation scheme.