机构

For overcharging clients in bond mark-ups by failing to pass on lower-than-expected execution prices.

The Bank of China (3988) subsidiary allowed clients to upgrade their investment risk without justification and to achieve "high asset concentration" - more than 20% of net assets in one product - in the majority of transactions in the relevant periods.

Things do go wrong, apparently. Mr Du wins his application for pre-action discovery, to enable him to pursue his claim of some HK$100m against the bank, which is pursuing him for a debt claim of US$852k. On the bank's affirmation in defence, Deputy High Court Judge Conrad Seagroatt says "it is a singularly uninformative document riddled with irrelevancies and inaccuracies". Interestingly, Mr Seagroatt retired as a High Court Justice at 65 in 2003, but is apparently still going strong as a deputy.

A Cyberport-based investment company alleges that an unauthorised person logged into its BOCI account and bought up 4.92% of PSP at an average 36% above the previous day's close, draining its account of about HK$37.7m. The SFC has today commenced a general cybersecurity review on brokers' systems after 16 incidents in the last 12 months involving over HK$100m.

For dealing through his mother-in-law's account and passing client funds through his personal bank account.