Hong Kong’s Securities and Futures Commission found Fok in breach of the Personal Data (Privacy) Ordinance, the SFC’s Code of Conduct, and JPF’s internal policies. It imposed an eight-month ban, until 18 February 2018.
Hong Kong-based Fok joined BNP Paribas Investment Partners Asia immediately after leaving JPF in April 2016, where he worked in a sales support role. JPF’s internal investigation found that around the time of his resignation, Fok sent a sales presentation and a client list to his personal email account.
Later, at his new firm, he contacted relationship managers from the list of around 2000 names, according to an SFC statement.
Fok was fired by BNP in June 2016, after JPL reported the matter to SFC and informed BNP about his conduct, the statement said. His SFC securities dealing and advising licenses were revoked after his termination.
The Personal Data Ordinance specifies that personal data, including contact numbers, must not be used for a new purpose that was not clearly stated at the time of data collection.
The Code of Conduct for SFC-licensed persons requires honesty, fairness and acting in the best interests of clients and the market’s integrity.
SFC noted that in meting out the disciplinary measure, it had taken into account Fok’s otherwise clean record and his admission of misconduct.
