The Securities and Futures Commission ("SFC") has banned Mr. Ho Hin Hang for five months from May 21, 2025, to October 20, 2025. The ban follows a series of AML/CFT and regulatory compliance failures at Lion Futures Limited ("LFL") between 2017 and 2019, which were attributed to Ho's negligence.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On May 21, 2025, the Securities and Futures Commission ("SFC") issued a ban against Mr. Ho Hin Hang, former responsible officer ("RO"), manager-in-charge ("MIC"), and director of Lion Futures Limited ("LFL"), effective from May 21, 2025 to October 20, 2025.
This action stems from the SFC’s prior sanctions against LFL, which involved multiple instances of non-compliance with anti-money laundering ("AML") and counter-terrorism financing ("CTF") regulations and other regulatory obligations between May 2017 and July 2019.
The SFC held that Ho’s failures in fulfilling his duties as an RO and a senior management member of LFL from May 2017 to September 2018 were the primary factors contributing to the company’s compliance issues.
Upon investigation, the SFC determined that LFL's inadequate due diligence and lack of effective risk assessment and monitoring systems permitted clients to engage in suspicious activities and potentially facilitate money laundering and terrorist financing.
When imposing disciplinary sanctions on Ho, the SFC considered various factors, including the severity of his and LFL’s negligence in monitoring clients and implementing appropriate AML/CTF measures, the need to send a strong deterrent message to the market, and Ho’s otherwise unblemished disciplinary record.
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