Compliance & Regulation

SFC bans Mo Shau Wah for life

The Securities and Futures Commission (SFC) has announced that it has banned Mo Shau Wah, a former account executive of China Pacific Securities, for life.

The ban has been issued to Mo following her criminal conviction.

In December 2018, the Court of First Instance found Mo guilty of stealing approximately HKD110.2 million worth of shares from China Pacific’s clients between January 2005 and October 2012.

Mo also made unauthorised sales of the stolen shares in the open market through nominee client accounts held at China Pacific in the names of her relatives. The sale proceeds were subsequently paid into the relatives’ bank accounts controlled by Mo, according to a statement by the SFC.

Mo further conspired with Hui Fong Ting, a former settlement clerk of China Pacific, to cover up the theft through false entries that Hui created in China Pacific’s computer system and client statements.

The SFC considers that Mo is not a fit and proper person to be licensed or registered to carry on regulated activities as a result of her criminal conviction.