The Hong Kong Securities and Futures Commission (SFC) has prohibited Ms Mok Cheuk Ling, a former licensed representative of Sun Hung Kai Investment Services Limited (SHKIS) and Sun Hung Kai Commodities Limited (SHKCOM) (collectively, SHK), from re-entering the industry for 42 months from 11 September 2026 to 10 March 2030.

The disciplinary action follows an SFC investigation which found that Mok effected transactions in the accounts of seven clients of SHK on a discretionary basis without obtaining their written authorization between 2009 and 2021. She also provided false or misleading account information to two of them between July 2015 and September 2020, and furnished false account statements to three of them in January and April 2021.

Specifically, the SFC’s investigation revealed that:

• although the clients had agreed to, or were aware of, Mok operating their accounts on a discretionary basis, her arrangements with them were not put into writing and were not disclosed to SHK. Indeed, SHK’s policy prohibited the provision of discretionary trading services to clients;
• Mok used the clients’ login credentials to access and place trade orders in their accounts via SHK’s online trading platform without seeking their specific authorization for each transaction, even though the client accounts were designated as non-discretionary accounts. The trades resulted in substantial investment losses for the clients; and
• Mok misrepresented and concealed the true financial position of the accounts of certain clients by providing them with inflated account balances, fabricated trade details and false account statements.

The SFC considers that Mok is guilty of misconduct and she is not fit and proper to be a licensed person. In deciding the disciplinary sanction, the SFC has taken into account all relevant circumstances, including that Mok’s discretionary operation of the clients’ accounts spanning over 12 years, the resulting losses for the affected clients totalling close to $3 million, and her partial compensation to some of the clients with over $1.2 million of her own funds.

SHKIS and SHKCOM are now known as Everbright Securities Investment Services (HK) Limited and CES Commodities (HK) Limited respectively.