The Securities and Futures Commission (SFC) said Chak Tsz Hoi was not a “fit and proper person” after the Hong Kong District Court sentenced him for 23 counts of accessing a computer with dishonest intent.
The charges arose from a period between May and June 2008 where Chak altered the data in BEA’s equity derivatives trading system.
SFC, a Hong Kong based regulatory body, alleges that Chak had attempted to conceal the losses in his equity derivatives transactions for BEA.
BEA estimates its unrealised losses from Chak’s unexpired equity derivatives transactions to reach approximately $80m from June 2008.
