HK broker banned for unauthorised trading

Hong Kong’s securities regulator has banned Chan Hau-Wing from the industry for two years for conducting unauthorised trades in a client’s account and acting contrary to the internal policy of Yue Xiu Futures Company. The Securities and Futures Commission (SFC) found that on February 8, 2014, Chan was given a client order to buy 13 crude oil futures contracts, but he mistakenly placed a sell order. Instead of reporting the error to the management of Yue Xiu Futures in accordance…