SFC Revokes Registration of Koon Yee Poon

The Securities and Futures Commission announced today that it has revoked the registration of Mr Koon Yee Poon (Koon) as a securities dealer's representative and commodities dealer's representative with effect from 15 May 1998.

The SFC action resulted from an investigation covering the period 1 January 1992 to 4 March 1998 whilst Koon was employed as a dealer's representative of Okachi Investments (Hong Kong) Company Limited and a commodities dealer's representative of Okachi (Hong Kong) Company Limited.

During the investigation, it was found that Koon had utilised the margin account of a client of Okachi without her authority to book his own loss-making trades. To cover such losses, he then sold some of the client's shares held as collateral for margin facilities without her knowledge or consent.

Based on these findings, the SFC concluded that Koon's fitness and properness to remain registered as both a securities dealer's representative and a commodities dealer's representative had been seriously impugned. Therefore, his registrations were revoked.

For further information, please contact Bill Weeks at 2840-9289 or Kathleen Ho at 2840-9231.