The Securities and Futures Commission (SFC) has suspended Wang Shian-tang, a former representative of Yuanta Securities, for 26 months from November 2024 to January 2027. The suspension follows an investigation revealing that Wang entered a private profit-sharing agreement with a client without his employer’s knowledge, entitling him to 10% of the client’s investment profits. Additionally, he maintained a secret personal trading account and conducted transactions without disclosure to Yuanta, violating company policies. His actions, which included making false statements to the SFC, were deemed dishonest and a breach of conduct, prompting the SFC to impose a sanction to deter similar misconduct in the future.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR198
