On September 11, 2026, the SFC banned former licensed representative Mok Cheuk Ling from re-entering the securities industry for 42 months after finding she operated seven clients' accounts on a discretionary basis without written authorization over more than 12 years, resulting in losses of close to $3 million.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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Disciplinary Prohibition Order
On September 11, 2026, the Securities and Futures Commission (the "SFC") issued a prohibition order against Ms Mok Cheuk Ling, prohibiting her from re-entering the regulated industry for a period of forty-two (42) months. The prohibition is effective from September 11, 2026 to March 10, 2030. At all material times, Ms Mok was accredited as a licensed representative of Sun Hung Kai Investment Services Limited (""SHKIS"") and Sun Hung Kai Commodities Limited (""SHKCOM"").
Nature and Scope of Misconduct
Following an investigation conducted by the SFC, it was determined that between 2009 and 2021, Ms Mok effected transactions in the accounts of seven clients on a discretionary basis without having obtained their written authorisation. In addition, she provided false or misleading account information to two such clients during the period from July 2015 to September 2020, and furnished fabricated account statements to three clients in January and April 2021.
The SFC's investigation further established that although certain clients had consented to, or were cognisant of, Ms Mok operating their accounts on a discretionary basis, no written arrangement was ever executed with any client nor disclosed to SHK. It is noted that SHK's internal policy expressly prohibited the provision of discretionary trading services to its clientele.
Ms Mok accessed and placed trade orders in her clients' accounts through SHK's online trading platform by utilising their login credentials, without seeking specific authorisation for each individual transaction, notwithstanding that the relevant client accounts were designated as non-discretionary. Such unauthorised trading resulted in substantial investment losses to the affected clients.
Furthermore, Ms Mok misrepresented and concealed the true financial position of certain client accounts by providing inflated account balances, fabricated trade details, and false account statements.
Sanction Considerations
The SFC has determined that Ms Mok is guilty of misconduct and does not meet the fit-and-proper requirements to be a licensed person. In calibrating the disciplinary sanction, the Commission took into consideration all relevant circumstances, including: (i) the prolonged duration over which Ms Mok operated client accounts on a discretionary basis spanning approximately twelve years; (ii) the aggregate losses sustained by affected clients totalling close to HK$3 million; and (iii) her partial restitution of in excess of HK$1.2 million from her own funds towards certain affected clients.
Supplementary Particulars
It is noted for the record that SHKIS has since been renamed as Everbright Securities Investment Services ("HK") Limited, and SHKCOM has since been renamed as CES Commodities ("HK") Limited. Ms Mok was accredited to SHKIS in respect of Type 1 regulated activity (dealing in securities) and to SHKCOM in respect of Type 2 regulated activity (dealing in futures contracts), pursuant to the Securities and Futures Ordinance, for the period commencing February 28, 2007 and expiring October 29, 2021. Ms Mok is presently not licensed by the SFC.
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