The Securities and Futures Commission has banned Mr Ye Feng, a former vice president of the Bank of Communications Co, from ever re-entering the industry for life following his conviction for bribery last year.

The Eastern Magistrates’ Court found Ye, responsible for handling securities transactions for BOCOM’s clients at the material time, guilty of soliciting illegal commission payments of approximately HK$919,120 from a client for profits generated from the client’s trades in Hong Kong stocks.

The SFC considers that Ye “is not a fit and proper person to be licensed or registered to carry on regulated activities as a result of his criminal conviction”.

Ye was engaged by BOCOM to deal in securities and advise on them from 15 May 2012 and 1 October 2015. Ye was convicted of two counts of soliciting an advantage as an agent, contrary to sections 9 and 12 of the Prevention of Bribery Ordinance at the Eastern Magistrates’ Court on 22 August 2018. He was sentenced to 17 months’ imprisonment and was ordered to make restitution of approximately HK$637,000 to BOCOM on 23 August 2018.