Hong Kong’s securities regulator has banned Lum Yin Ling, a former relationship manager at Credit Suisse, from re-entering the industry for life after she was convicted for fraud last year.
She was convicted and sentenced on October 8 by the Court of First Instance to imprisonment of seven years on one count of fraud.
Between April 2011 and September 2012, Lum, then a relationship manager at Credit Suisse’s Hong Kong branch, misappropriated a total of around HK$31 million ($4 million) over seven occasions from three client accounts, the court found. She had done so by deceiving the client to obtain written instructions or by forging client signatures on relevant payment instructions.
The SFC concluded Lum is 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 (HKMA).
Lum had been licensed to carry on type 1 (dealing in securities) and type 4 (advising on securities) activities. She is now not registered with the HKMA or licensed by the SFC.