On October 27, 2025, the Securities and Futures Commission ("SFC") banned Cheng Lai Ho from the industry for seven months, following an investigation into his non-disclosure of personal securities trading accounts.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On October 27, 2025, the Securities and Futures Commission ("SFC") imposed a seven-month prohibition on Mr. Cheng Lai Ho from re-entering the industry, effective from October 27, 2025, to May 26, 2026.
The enforcement action stems from an SFC investigation that uncovered Cheng’s failure to disclose multiple personal securities trading accounts to Bank of Communications Co., Ltd. and Bank of Communications (Hong Kong) Limited ("BOCOM") between April 2017 and April 2022.
Furthermore, between August 2017 and April 2022, Cheng maintained a securities margin account in his mother's name at an external brokerage firm, conducting over 260 personal trades through this account without informing BOCOM.
Throughout the investigation, Cheng falsely declared compliance with BOCOM’s staff dealing policy on eight occasions, actions the SFC deemed wilful and dishonest concealment. His behaviour compromised BOCOM’s internal controls and called into question his integrity as a regulated person.
The SFC, taking into account the duration and severity of Cheng’s violations over five years and his cooperation during the investigation, imposed the seven-month ban. Cheng currently holds no registration or license with the Hong Kong Monetary Authority or the SFC.
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