Hong Kong’s Securities and Futures Commission (SFC) has banned Mr Peter Law Chi Kin, a former licensed representative of Convoy Asset Management Limited (CAML), from re-entering the industry for 10 years.
The ban, which runs from 26 April 2023 to 25 April 2033, stems from Law’s taking part in a stock manipulation scheme. The SFC also fined Law $535,500, equivalent to the profit that he gained from participating in the scheme.
From June to July 2016, Law was persuaded by his colleague Mr Wong Kwun Shing to join the stock manipulation scheme. He went on to solicit and arrange for 10 of his clients and friends to buy the shares of a company listed on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (Company A) from the manipulators involved in the scheme.
His clients agreed to hold onto the shares for one to…
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