Ex-HSBC Employee Gets Life Ban

HSBC Hong Kong

HSBC Hong Kong

The Hong Kong regulator has banned a former employee of The Hongkong and Shanghai Banking Corporation, from re-entering the industry for life, following her conviction for bribery.

The Securities and Futures Commission (SFC) took the action after the District Court found that Chen Chia Hui, a relationship manager of HSBC at the material time, accepted a secret commission in the sum of $500,000 on 9 February 2013 as compensation for recommending and selling to a HSBC customer an insurance policy issued by a competitor.

Chen also did not make it clear to the customer that the insurance policy was not a product of HSBC which was to the detriment of the bank’s interests.

Chen was sentenced by the District Court on 6 May 2016 to 18 months of imprisonment.

As a result of her conviction the SFC considers Chen is not a fit and proper person to be licensed or registered to carry on regulated activities. 

 



 

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.