SFC bans Raaj Shah for 12 months

The Securities and Futures Commission (SFC) has banned Mr Raaj J Shah from re-entering the industry for 12 months from 10 March 2016 to 9 March 2017 (Note 1).

The SFC investigation found that during the period from January 2009 to May 2014 Shah, a responsible officer of Matchpoint Investment Management Asia Limited (MIMAL), failed to disclose all his personal accounts and obtain prior approval for securities transactions, in breach of the staff personal trading policy of MIMAL.  

Shah circumvented MIMAL’s employee trading policies which meant that MIMAL was not able to monitor his personal trading activities (Note 2). The SFC considers Shah’s conduct, which fell short of the standards required of him, calls into question his fitness and properness to be a licensed person.

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Notes:

1. Shah was licensed under the Securities and Futures Ordinance (SFO) to carry on business in Type 9 (asset management) regulated activity. Shah was accredited to Matchpoint Investment Management Asia Limited from 4 September 2009 to 6 July 2015. Shah is currently not a licensed person under the SFO.
2. Under paragraph 12.2 of the Code of Conduct for Persons Licensed by or Registered with the SFC, licensed corporations are required to implement procedures and policies on employee trading and to actively monitor the trading activities in their employees’ accounts and their related accounts.