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Former Executive of Fulbright Securities Fined $542K and Banned for Life by SFC

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Former Executive of Fulbright Securities Fined $542K and Banned for Life by SFC

The Securities and Futures Commission (SFC) has banned Danny Fung Kwong Shing, a former account executive of Fulbright Securities, from re-entering the industry for life and fined $542,071.

” Former Executive of Fulbright Securities fined $542k and banned for life “

Between January 2013 and May 2014, Danny had conducted 772 unauthorized transactions in the account of his client (his friend).  He had also fabricated telephone order recordings for his of this two of his clients’ account were placed by his clients.

In at least 53 of the unauthorised transactions, the premeditated scheme was to secure profits for one client, in expense of another client by selling shares from one to another higher than the purchase price.  The client suffered a loss of around $2.6 million as a result of the scheme.

Source: Official Press Release




Are you a CEO, Entrepreneur, UHNW, HNW or Professional Investor searching for $3 million to $300 million financial services? Find corporate banks, private banks, loans, capital and more at The Financial Centre | TFC. Register here for private access.

Spending millions and months searching for $3 million to $300 million clients. Finding clients just got easier. Let CEOs & Entrepreneurs and UHNWs & HNWs find you in seconds. Learn more

Managing, investing and advising millions & billions of assets in Asia? Join more than 10,000 ++ leading financial professionals at Caproasia.com | Become a Caproasia user here or sign up for Newsletter here and join 6,000 ++ leading financial professionals.

Caproasia.com is the leading platform for information, data, research and resource for the financial industry in Asia. Collectively, they manage more than $20 trillion assets in Asia in Investments, Fund Management, Asset Management, Private Banking, Wealth Management, Multi-Family Office, Family Office, Private Equity and Hedge Funds.