The Securities and Futures Commission has banned Ms Chan Tan Lo, a former relationship manager at BOCI Securities, from doing financial business for 14 months up until 18 May 2021.

Chan was licensed as a representative to carry on Type 1 (dealing in securities) and Type 2 (dealing in futures contracts) regulated activities in accordance with the Securities and Futures Ordinance, and was at BOCI Securities between 2004 and 2016. She is no longer licensed by the SFC.

An SFC investigation found that when Chan executed nine bond transactions for two clients in March 2016, she failed to provide them with accurate information about the final execution prices and/or the actual commission rates that she was charging them.   She also overcharged them in these transactions.

The regulator considers that Chan’s conduct was dishonest and that she is not fit to own a licence. In punishing Chan, the SFC took her remorse and her otherwise clean disciplinary record into account.