The Hong Kong financial regulator conducted an investigation into a former representative of Sun Hung Kai Investment Services.

Hong Kong's Securities and Futures Commission has banned Ma Yu Lung, a former representative of Sun Hung Kai Investment Services, from re-entering the industry for eight years for breaching regulatory codes of conduct. 

An investigation carried out by the SFC found that Ma accepted order instructions from unknown and unauthorised individuals to trade securities on the Hong Kong Stock Exchange and colluded with SHKIS' account holders to fabricate the origin of the order instructions. 

The SFC also revealed that Ma permitted execution of trades stemming from these order instructions in the securities trading accounts of others at SHKIS and concealed the identities of those who originally distributed the order instructions. 

“Ma's conduct was dishonest and cast serious doubts on his fitness and properness to be a licensed person because as a SFC-licensed representative, he should be satisfied on reasonable grounds the identity of the person ultimately responsible for originating the instruction in relation to a transaction and should not effect a transaction unless the identity of the person originating the order is satisfied,” said the SFC in a statement.