Posted inRegulationNews

SFC bans ex-Citic RM for life

A former relationship manager at Citic lied about an additional sum they had to pay the bank for opening accounts.

Hong Kong’s Securities and Futures Commission (SFC) has banned Jing Ts’o from re-entering the industry for life, as reported by FSA‘s sister publication, International Adviser.

This comes after the former relationship manager of China Citic Bank International Limited (Citic) was convicted of fraud.

Ts’o was responsible for handling customer account opening for Citic.

The Eastern Magistrates’ Court found that, between May 2016 and January 2017, he lied to seven customers about an additional sum they had to pay the bank for opening accounts.

The SFC said that he “pocketed the additional sum from the customers and fabricated receipts to acknowledge payments from them on five occasions”.

The Hong Kong regulator considers that he “is not a fit and proper person to be licensed or registered to carry on regulated activities as a result of his criminal conviction”.


Ts’o was convicted of seven counts of fraud, contrary to section 16A of the Theft Ordinance at the Eastern Magistrates’ Court on 7 January 2019.

On 21 January 2019, he was sentenced to six months imprisonment suspended for two years and was ordered to make restitution to the victims totalling HK$65,100 ($8,399).

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