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SFC Bans Former Citibank Employee Cheung Kwan Po For Forgery

by Finance Magnates Staff
  • Cheung used a photocopied client’s signature to deceive Citibank into accepting a bond application form as genuine.
SFC Bans Former Citibank Employee Cheung Kwan Po For Forgery
Finance Magnates
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Hong Kong’s Securities and Futures Commission (SFC) announced today in a statement that it has banned Cheung Kwan Po, a former employee of Citibank (Hong Kong), from re-entering the industry for six months from 5 January to 4 July 2017.

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Cheung was engaged by Citibank to perform dealings and advisory services in securities, both regulated activities under the Securities and Futures Ordinance.

The SFC found that in August 2015, Cheung, when processing a client’s bond application, photocopied the client’s signature from her account opening documents, pasted the signature on her risk assessment form and attempted to use the form to deceive Citibank into accepting the signature as genuine.

The SFC considers that Cheung is not fit and proper to be a regulated person due to his failure to perform his function as a relevant individual honestly and reliably. He is no longer registered with the Hong Kong Monetary Authority nor licenced by the SFC.

The case was referred to the SFC following an investigation by the Hong Kong Monetary Authority.

Hong Kong’s Securities and Futures Commission (SFC) announced today in a statement that it has banned Cheung Kwan Po, a former employee of Citibank (Hong Kong), from re-entering the industry for six months from 5 January to 4 July 2017.

To unlock the Asian market, register now to the iFX EXPO in Hong Kong

Cheung was engaged by Citibank to perform dealings and advisory services in securities, both regulated activities under the Securities and Futures Ordinance.

The SFC found that in August 2015, Cheung, when processing a client’s bond application, photocopied the client’s signature from her account opening documents, pasted the signature on her risk assessment form and attempted to use the form to deceive Citibank into accepting the signature as genuine.

The SFC considers that Cheung is not fit and proper to be a regulated person due to his failure to perform his function as a relevant individual honestly and reliably. He is no longer registered with the Hong Kong Monetary Authority nor licenced by the SFC.

The case was referred to the SFC following an investigation by the Hong Kong Monetary Authority.

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