SFC bans Lam Chin Man for 15 months

11 Mar 2014



The Securities and Futures Commission (SFC) has banned Mr Lam Chin Man from re-entering the industry for 15 months from 11 March 2014 to 10 June 2015 (Note 1).

The disciplinary action follows an SFC investigation which found that Lam concealed from his employer the existence of a nominee account operated by third parties.

On one occasion, Lam executed an error trade for the nominee account which he failed to report to his employer or account for to his client. The error trade concerned a warrant that Lam bought, when he was instructed to sell. The error trade ultimately caused a loss to his client. 

The SFC considers that Lam’s conduct calls into question his fitness and properness to be licensed.

End

Notes:

  1. Lam was licensed as a representative under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities) regulated activity and was accredited to Eternal Pearl Securities Limited during the period from 12 April 2006 to 25 March 2013. He is currently not accredited to any licensed corporation.
  2. A copy of the Statement of Disciplinary Action in relation to the matter is available on the SFC website.


Page last updated : 11 Mar 2014