SFC fines Unicorn Securities HK$3m, Chan Hoi Shu $0.2m, bans him for 15 months
SFC, 14-Mar-2016
Mr Chan was aribtraging the HSBC scrip dividend. If clients elected to receive scrip, but the scrip issue price was more than the market price, then he would buy stock in the market for them and elect to receive the cash dividend on the client shares, keeping the difference. If the issue price was less than the market price then he did the opposite. Clients got what they wanted, but it was an abuse of client assets.
机构
人物
SFC reprimands Colin Chan Kar Lun and suspends Mr So Le Hian of Unicorn Securities Co Ltd for 1 year