Hong Kong’s Securities and Futures Commission (SFC) has banned Lo Hoi Luen, a former employee of American Express Bank, from re-entering the industry for life.
The District Court had already, on February 8, 2010, sentenced Lo to imprisonment of 18 months following her conviction on 30 counts of forgery.
Between 2006 and 2008, Lo bought 51 callable accrual notes for a client without the client’s authorisation. She also forged her client’s signature on the Product Offer Acknowledgement Letters related to the purchase of the notes. Lo received 0.12% commission on the investment amount of each of the notes bought.
The SFC considers Lo not a fit and proper person as a result of her conviction.
The case was referred to the SFC by the Hong Kong Monetary Authority.
Lo had been a relevant individual engaged by American Express to deal in securities from April 2003 to September 2008. The Hong Kong business of American Express was acquired by Standard Chartered Bank (Hong Kong) in July 2008.
Lo is currently not registered with the Hong Kong Monetary Authority or licensed by the SFC.