On January 26, 2026, the Securities and Futures Commission ("SFC") suspended the license of Mr. Wong Chi Fai for 27 months for violating securities regulations.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On January 26, 2026, the Securities and Futures Commission ("SFC") suspended the license of Mr. Wong Chi Fai for 27 months. The suspension covers the period from January 23, 2026, to April 22, 2028.
Wong, a former licensed representative of Fulbright Securities Limited and Fulbright Futures Limited, was discovered to have engaged in approximately 1,300 securities transactions worth $670 million through a relative's account at another brokerage firm from October 2019 to January 2022. Additionally, he was involved in approximately 10,000 personal trades worth $2.8 billion through a relative's account at Open Securities Limited ("OSL") between January 2015 and December 2018.
Wong concealed his beneficial interest and personal trading activities from Fulbright and OSL, failing to obtain the required approval for trading at OSL. His actions circumvented the internal dealing policies of both firms.
The SFC determined that Wong's actions were willful and dishonest, resulting in the suspension of his license. The duration and nature of the breaches, the significance of the personal trades, Wong's cooperation with the SFC, and his otherwise clean disciplinary record were all taken into account in determining the suspension period.
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