• Home
  • About
  • Webcasts
  • ‘Enforcement 40’ for 2020
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura 480x60
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2009 / November / 23 / Hong Kong: SFC Bans Former Investment Banker for Insider Trading

Hong Kong: SFC Bans Former Investment Banker for Insider Trading

By Securities Docket on November 23, 2009, 3:38 pm

hong-kong-flag230In Hong Kong today, the Securities and Futures Commission banned former  investment banker Allen Lam from the industry for life following his conviction in July for insider trading, Bloomberg reports.

As previously discussed here, Lam, a former investment banking director at Hong Kong-based CLSA, was sentenced to six months in jail after pleading guilty to charges that he tipped off Ryan Fong, former hedge fund manager at HSZ, on a takeover bid for Media Partners.  Fong was sentenced to a year in prison and fined HK$1.37 million for purchasing shares in Media Partners following Lam’s tip.  Fong reportedly made over HK$4 million in profit.

“Lam’s conduct violated the trust expected of him as a licensee,” SFC’s Executive Director of Enforcement Mark Steward said. “There is no place for licensees who misuse confidential information and enter into arrangements like this to deceive the market.”

Read the Bloomberg article

Blog Widget by LinkWithin

Posted in Global | Tagged Insider Trading

« Previous Next »

‘Enforcement 40’ for 2020

Ankura 260x250

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2021 Securities Docket.

Powered by WordPress and Hybrid.