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SFC bans Cheung Wing Hung for 18 months

The Securities and Futures Commission (SFC) has banned Mr Cheung Wing Hung from re-entering the industry for 18 months from 24 May 2024 to 23 November 2025 following his criminal conviction for carrying out unlicensed activities under the Securities and Futures Ordinance (SFO) (Note 1).

On 25 July 2023, the Eastern Magistrates’ Court convicted Cheung for holding himself out as performing a regulated function in relation to dealing in securities as an agent of entities not licensed by the SFC (Notes 2 and 3).

In the circumstances, the SFC considers that Cheung is not a fit and proper person to be licensed to carry on regulated activities due to his criminal conviction.

End

Notes:

  1. Cheung was licensed to carry on Type 1 (dealing in securities) regulated activity under the SFO, and was accredited to Imperium International Securities Limited, from October 2014 to July 2016. Cheung is currently not licensed by the SFC.

  2. Under Schedule 5 of the SFO, “dealing in securities” is a type of regulated activity under the SFO. Under section 114(3)(b) of the SFO, it is an offence for any person to hold himself out as performing a regulated function, in relation to any regulated activity carried on as a business, without a licence from the SFC.

  3. Cheung pleaded guilty to the offence and was fined $6,000 and ordered to pay the SFC’s investigation costs. Please refer to the SFC’s press release dated 27 July 2023.


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