Compliance & Regulation

SFC bans former BOCIS Relationship Manager

The Securities and Futures Commission (SFC) has announced that it has banned Chan Tan Lo, a former relationship manager of BOCI Securities (BOCIS).

The ban, which will last for 14 months from 19th March 2020 to 18th May 2021, has arisen as a consequence of Chan’s failure to disclose to, or provide accurate information regarding the final execution prices or the commission rates she charged regarding nine bond transactions executed for two clients in March 2016.

In the case of these transactions, Chan has been revealed to have overcharged the two clients in the aforementioned transactions.

The SFC considers that Chan’s conduct was dishonest and calls into question her fitness and properness to be a licensed person, according to a press release.

In deciding the sanction against Chan, the SFC took into account all relevant circumstances, including her remorse and her otherwise clean disciplinary record.