HK SFC bans one exec, suspends another

Hong’s Kong’s securities regulator has banned Global Credit Securities employee Yip Wan-Fung from re-entering the financial industry for life and suspended Wu Li-Jun, formerly of China Merchants Securities, for six months for failing to properly safeguard her clients’ assets. The Securities and Futures Commission (SFC) said it considered Yip not to be a fit and proper person as a result of her convictions on criminal charges. In October 2010, Yip was sentenced to six years' impr…