The ban follows an investigation by the SFC into Lees’ practices at Sun Hung Kai Financial which revealed that between 2012 and 2011, Lee had:
- operated discretionary accounts on behalf of ten clients at SHKF without any prior written authorization from the clients;
- effected unauthorized transactions in the accounts of two clients despite explicit verbal agreements not to do so; and
- failed to keep a proper record of trade order instructions and confirmations.
The SFC said, when taking action against Lee, it took into account of the fact that she had a clean record prior to these offences and the her company paid S$870,00 to the affected clients in compensation.
