SFC bans Masashi Yonezawa for 30 months

14 Oct 2015



The Securities and Futures Commission (SFC) has banned Mr Masashi Yonezawa, a former trader at Nomura International (Hong Kong) Limited (Nomura Hong Kong), from re-entering the industry for 30 months (Notes 1 & 2).

The disciplinary action follows an SFC investigation which found that Yonezawa, a trader on Nomura Hong Kong’s Delta One trading desk, made false entries in Nomura Hong Kong’s risk management system on three separate days between March and May 2013 to conceal the real risk exposure of his trades. 

Yonezawa, who was on secondment from Nomura Securities Co., Ltd in Japan at the material time, also made misrepresentations to his supervisors and the management of Nomura Hong Kong when he explained the trading losses resulting from his trades to them. As a result, Yonezawa’s conduct prevented Nomura Hong Kong from effectively monitoring the trading activities of its Delta One trading desk.

In deciding the disciplinary action, the SFC has taken into account all relevant circumstances, including Yonezawa’s conduct was deliberate and dishonest, and his remorsefulness for the misconduct.  

End

Notes:

  1. Yonezawa was licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities) and Type 2 (dealing in futures contracts) regulated activities and was accredited with Nomura Hong Kong between 31 December 2012 and 6 June 2013. He is currently not licensed by the SFC.
  2. The SFC has also taken disciplinary action against Nomura Hong Kong as a result of the same investigation. Please see SFC’s press release dated 30 July 2015. Yonezawa is the “Mr X” as referred to in the press release.

 


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



Page last updated : 14 Oct 2015