HONG KONG: SFC suspends broker for illegal Hong Kong short selling

Monday March 4 2013

Further to the update of 26th October 2012, the Securities and Futures Commission (SFC) has suspended the licence of Mr Ng Kwok Wing for six weeks from 2 March 2013 to 12 April 2013 due to illegal Hong Kong short selling.

The disciplinary action follows Ng’s conviction on 25 October 2012 for illegal short selling in the shares of Pacific Plywood Holdings Limited in contravention of the Securities & Futures Ordinance (Note 2). Accordingly, the SFC formed the view that Ng was guilty of misconduct, calling into question his fitness and properness as a licensed person.

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