The offence goes back to when Gong was employed at Orient Securities in Hong Kong between 22 May 2013 and 14 November 2014. He was licensed as a securities adivsor.
The Securities and Futures Commission said in a statement that Gong “accepted $100,000 for the publication of a research report on a listed company.
“The target share price proposed by the research report was not an independent and fair assessment of the listed company,” the regulator said.
In late 2013, a third party requested that Gong prepare a research report on the listed company. After draft reports written by Gong, were shown to the management of the company, the third party indicated that the target share price should be revised upwards, the SFC said.
On the day the research report with the revised share price was published, Gong received $100,000 from the third party, the SFC said.
The SFC ban follows the 25 February 2015 conviction of Gong in Hong Kong courts for the offence of bribery. The court ordered that the bribe of $100,000 accepted by the defendant be confiscated and Gong was sentenced to imprisonment of one year.
