The Securities and Futures Commission (SFC) has suspended the licence of Mr Wong Tim Hi (also known as Timmy Wong), a former licensed representative of Yuanta Securities (Hong Kong) Company Limited, for nine months from 3 July 2026 to 2 April 2027.

The disciplinary action stemmed from the SFC’s investigation into the market manipulation scheme involving the shares of Ching Lee Holdings Limited.

The SFC’s investigation found that, between June 2016 and May 2017, Wong allowed two third parties to be highly involved in operating, or acting on behalf of, four client accounts without obtaining written authorisation from the relevant clients.

Wong also disclosed to the third parties the clients’ confidential information without the clients’ authorisation. Notably, he shared with the third parties details and information about the relevant client accounts and transactions. He further communicated with the third parties about fund movements and fund balance in the accounts.

Wong was fully aware of the significant involvement of the third parties in operating these accounts. While Wong claimed that the relevant clients had requested the third parties to assist them in handling matters in relation to their trading accounts, he failed to obtain written authorisation from any of these clients to verify that the third parties were authorised to act on their behalf, nor did he ensure that such written authorisation had been obtained.

In doing so, Wong breached Yuanta’s internal policies and failed to protect clients’ interests, thereby calling into question his fitness and properness to remain a licensed person.

In determining the sanction against Wong, the SFC has taken into account all relevant circumstances, including Wong’s remorse, his willingness to accept the SFC’s disciplinary sanction, and his otherwise clean disciplinary record.