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Hong Kong regulator bans representative for hiding former disciplinary action

Feb 15 2013 Trond Vagen, Compliance Complete

Hong Kong's securities regulator has banned a former licensed representative at SinoPac Asset Management Asia from re-entering the industry for nine months, after he was found to have withheld information from the regulator on his licence application. The Securities and Futures Commission (SFC) banned Kuo Shou Min for nine months until November 5, 2013, saying he had failed to disclose that a disciplinary action had been taken against him in Taiwan when he applied to be licensed by the SFC. The SFC found that Kuo been suspended by the Securities and Futures Bureau of Taiwan (SFB) for three months in 2005, for breaching Taiwanese investment fund regulations. Kuo was a licensed representative at SinoPac Asset Management Asia holding Type 4 (advising on securities) and Type 9 (asset management) licences from 13 April 2010 to 14 March 2012. Dishonest persons are usually able to withhold information about disciplinary actions or investigations conducted in other jurisdictions when

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