Hong Kong’s securities regulator has banned a former executive of Singaporean bank DBS from re-entering the financial services industry for life.

Ivy Kiu Koon Yee, a relationship manager at DBS’s Hong Kong branch, stole over HK$26 million ($3.4 million) from the foreign currency and Hong Kong dollar deposits in four of her customers’ accounts between 2004 and 2009, found the Court of First Instance.

Kiu transferred the money, without authorisation, to her mother’s and her own bank and securities accounts and to other customer accounts. She did so by forging bank documents or using blank transaction vouchers pre-signed by the four customers.

On September 19, 2011, the Court of First Instance had sentenced Kiu to prison for 79 months – or six-and-a-half years – on six counts of theft and two counts of dealing with property known or believed to represent illegal proceeds.

The Hong Kong Monetary Authority (HKMA) referred the case to the Securities and Futures Commission (SFC), which concluded that Kiu is not a fit and proper person to be licensed.

While at DBS, Kiu held type 1 and 4 licences (dealing and advising on securities) from April 2003 to October 2009. She is currently not registered with the HKMA, nor licensed by the SFC.