HK SFC Bans ex-Morgan Stanley Employee for Life
The disciplinary action follows the completion of the criminal proceedings commenced by the SFC against Du for insider dealing in the shares of CITIC Resources Holdings Limited.
The SFC concluded that Du is not a fit and proper person to be licensed. In deciding the sanction, the SFC took into account all relevant considerations including:
• Du breached the trust and confidence placed in him by his clients and employer;
• Du’s criminal conviction and the direct relevance of the wrongdoings to his fitness and properness to be a licensed person; and
• insider dealing is a very serious misconduct which damages market integrity, a strong deterrent message must be sent to the market to deter other practitioners from committing