The Securities and Futures Commission (SFC) has banned Mr. Jonathan Dominic Iu Wai Ching from re-entering the financial industry for 15 years due to his involvement in market misconduct, specifically false trading in shares of Sinopharm Tech Holdings Limited and Quantum Thinking Limited. As a former responsible officer of Tarascon Capital Management, Iu manipulated trades through brokerage accounts, resulting in $5.6 million in unlawful gains for his mother at the expense of the hedge fund. The SFC deemed Iu unfit for licensing, emphasizing the seriousness of his actions, the breach of trust with clients, and the need for a strong deterrent against similar misconduct in the future.
Resources: https://www.icac.org.hk/en/p/press/index_id_1999.html
