Compliance Corner: Hong Kong, UBS

Editorial Staff

2 September 2020

Hong Kong, UBS
Hong Kong’s client advisor Masy Lo Mee Chi, for a period of eight months, for dishonest conduct.

The SFC ban applies from 29 August 2020 to 28 April 2021, the regulator said in a statement on Monday.

A probe found that when Lo was handling the request of a trust’s settlor in July 2017, she attempted to mislead the trustee into thinking that the settlor had signed an amended request letter in connection with the purchase of a fund for the trust account. Without the settlor’s approval, Lo appended a scanned version of the settlor’s signature from an earlier request letter signed by the settlor, and submitted it to the trustee as if it was signed by the settlor.

“The SFC considers that Lo’s conduct was dishonest and calls into question her fitness and properness to be a licensed or registered person,” the SFC said. In deciding the sanction against Lo, the SFC took into account all relevant circumstances, including her otherwise clean disciplinary record.