Hong Kong's securities regulator has banned Calvin Ho Kei Him, a former research associate at Morgan Stanley Asia, from re-entering the industry for 14 months from March 12, 2013 to 11 May 2014.
The disciplinary action follows a Securities and Futures Commission (SFC) investigation into Ho’s conduct that found that, between 2009 and 2011, Ho had:
- failed to identify and disclose to his employer all securities accounts related to him and the stock trading activities conducted through these accounts;
- failed to take adequate steps to avoid conflicts of interest between the stock trading activities in the securities accounts related to him and his employment as a research associate; and
- made false and/or misleading declarations in relation to outside securities accounts related to him.
Ho’s misconduct called into question his fitness and properness as a licensed person, says the SFC. In deciding the sanction, the regulator took into account:
- that candid disclosure is fundamental to the character of a licensed representative;
- that avoidance of conflicts is a primary duty of a research analyst;
- Ho’s clean disciplinary record; and
- that he co-operated in resolving these disciplinary proceedings.
Ho was licensed under the Securities and Futures Ordinance to carry on type 1 (dealing in securities) and type 4 (advising on securities) regulated activities between November 2009 and November 2011, during which he was accredited to Morgan Stanley Asia. He is not currently licensed.
A copy of the statement of disciplinary action is available on the SFC’s website.