The SFC said To Ka Kit had also been sentenced to perform 120 hours of community service, following his conviction, which took place on 3 on December 2012 at Hong Kong's Eastern Magistrates’ Court.
According to the SFC, To had been a relationship manager of ABN AMRO, which later became the Royal Bank of Scotland. At the time in question, he had been engaged to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) activities, under Hong Kong's Securities and Futures Ordinance.
Among To's duties, the SFC said, had been the handling of subscriptions of investment products purchased by the bank's clients.
Such subscriptions are not permitted to be accepted by banks without a valid risk assessment form, with joint accounts requiring risk assessment forms signed "by all account holders", the SFC noted.
In this case, although one of a pair of joint account holders had signed a risk assessment form "and agreed to subscribe" to an investment product, "the court found that To submitted to the bank a copy of a risk assessment form with forged signatures of [the other] joint account holder, in order to obtain approval for the subscription of an equity-linked note for the account," the SFC said in a statement.
The case had been referred to the SFC by the Hong Kong Monetary Authority.
To is currently not registered with the Hong Kong Monetary Authority or licensed by the SFC, the SFC statement said.
