SFC bans Shum Kam Ming for life

25 Sep 2017



The Securities and Futures Commission (SFC) has banned Mr Shum Kam Ming, a former account executive of Sincere Securities Limited (Sincere Securities), from re-entering the industry for life in connection with conducting unauthorized transactions in a client’s account (Note 1).

The disciplinary action follows an SFC investigation which found that between March 2014 and May 2015, Shum had:

The SFC considers that Shum’s dishonesty calls into question his fitness and properness to be a licensed person and decided to ban him for life (Note 4).

End

Notes:

  1. Shum was licensed to carry on Type 1 (dealing in securities) regulated activities under the Securities and Futures Ordinance.  He was accredited to Sincere Securities between 30 June 2010 and 27 May 2015.  Shum is currently not licensed by the SFC.
  2. Sincere Securities had compensated the client for her losses suffered as a result of Shum’s misconduct.
  3. Shum opened an investment account for his client at Allied Victory Gold and Silver Investment Limited, an associate company of Sincere Securities, without her knowledge and authority.
  4. The matter has been reported to the Police.

A copy of the Statement of Disciplinary Action is available on the SFC website



Page last updated : 25 Sep 2017