The Securities and Futures Commission (SFC) has banned Mr Stephen Yenn Man Han from re-entering the industry for life (Note 1).
Yenn was convicted by the Eastern Magistrates’ Court on 19 April 2013 on one count of false trading in the shares of Kaisa Group Holdings Limited in 2010, and was sentenced to imprisonment of three months suspended for three years and fined $560,000. In May 2013, Yenn lodged an appeal against the conviction, but he subsequently withdrew the appeal in August 2013 (Note 2).
The SFC concluded that Yenn was guilty of misconduct and not a fit and proper person to be licensed.
Notes:
- Yenn was licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities) and Type 2 (dealing in futures contracts) regulated activities. In August 2009, the SFC suspended Yenn’s licence for 12 months from 25 August 2009 to 24 August 2010 for manipulative order placing activities in six different stocks during the pre-opening sessions in 2008. Please see the SFC’s press release dated 26 August 2009.
- Please see the SFC’s press release dated 22 April 2013.
- A copy of the Statement of Disciplinary Action in relation to the matter is available on the SFC website.