Hong Kong regulator bans two ex-HSBC advisers for life

Added 8th September 2016

Hong Kong's Securities and Futures Commission (SFC) has banned two former HSBC employees from re-entering the financial services industry for life after they were convicted of fraud.

Hong Kong regulator bans two ex-HSBC advisers for life

Chau Hang Yu (formerly Aixingero Chat Yung) and Steve Chow Chun Yin sold and promoted investment products for HSBC.

In 2012 and 2014, they falsely claimed that customers had agreed to invest in unit trust funds. As a result, they received sales commission despite not actually selling the funds.

The district court in Hong Kong also found that Chau had referred her customers to Chow so that he could obtain more sales commission after she had reached the cap for receiving sales commission.

Chau later asked Chow for customer referral fees. He gave her HK$100,000 ($12,894).


On 23 February 2016, Chau was sentenced to 12 months of imprisonment following her conviction for two counts of fraud under the Theft Ordinance. 

Chow was sentenced to 18 months of imprisonment after he was convicted of two counts of fraud under the Theft Ordinance and one count of offering an advantage to an agent under the Prevention of Bribery Ordinance. 

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