HK regulator bans former CITIC relationship manager from re-entering fin industry
TS’O Jing has been banned from re-entering the industry for life following his conviction of fraud.
Hong Kong’s Securities and Futures Commission (SFC) today announces that it has banned Mr TS’O Jing, a former relationship manager of China Citic Bank International Limited (CITIC), from re-entering the industry for life.
The regulatory decision reflects the conviction of Mr TS’O Jing of fraud. TS’O was convicted of seven counts of fraud, contrary to section 16A of the Theft Ordinance at the Eastern Magistrates’ Court in January 2019. On January 21, 2019, he was sentenced to six months imprisonment suspended for two years and was ordered to make restitution to the victims totalling $65,100.
The Eastern Magistrates’ Court found that between May 2016 and January 2017, TS’O, who was then responsible for handling customer account opening for CITIC, falsely represented to seven customers about an additional sum they had to pay CITIC for their account opening applications.
TS’O pocketed the additional sum from the customers and fabricated receipts to acknowledge payments from them on five occasions.
The SFC considers that TS’O is not a fit and proper person to be licensed or registered to carry on regulated activities as a result of his criminal conviction.