Hong Kong, Asia's leading financial centre
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



2024 / 2025 Summits in Hong Kong & Singapore
Institutional Investor Summit / Roundtable - March / Oct / Nov
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register


This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $30 billion.











Hong Kong Court Convicts Former Account Executive of HK Brokerage Fulbright Securities for Share Trading Fraud with $22,000 Profit, Bought Shares at High Price for Client Account & Sold to His Friend Account at Low Price

15th October 2022 | Hong Kong

The Hong Kong court (Eastern Magistrates) has convicted former HK brokerage firm Fulbright Securities account executive (Danny Fung Kwong Shing) for engaging in share trading fraud & deception with $22,000 profit and $6,155 loss to client, buying shares at high price for client account and selling to his friend account at low price (In 2013).  Hong Kong SFC: “During the hearing, Fung admitted that between 2 August 2013 and 16 December 2013, he had employed a fraudulent scheme to effect securities transactions in eight stocks between two securities trading accounts under his control.  The securities trading accounts belonged to his friend and one of his clients, and he effected the transactions by dishonestly using his client’s funds and securities without authorisation. In essence, the scheme involved different trading patterns – namely, using his client’s funds to buy shares at high prices from the market and selling those shares at low prices to his friend’s account; or using his client’s funds to buy shares at high prices from his friend’s account.  These series of transactions resulted in a trading profit of $172,890 to his friend and a loss of $48,321 to his client.”  Danny Fung had been remanded in custody pending sentence on 27th October 2022 after pleading guilty to all 25 charges. 

“ Hong Kong Court Convicts Former Account Executive of HK Brokerage Fulbright Securities for Share Trading Fraud with $22,000 Profit, Bought Shares at High Price for Client Account & Sold to His Friend Account at Low Price “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
17th Oct Hong Kong | 7th Nov Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place on 17th Oct 2024 in Hong Kong, 7th Nov 2024 in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here


The 2024 Family Office Summit
17th Oct Hong Kong St Regis | 7th Nov Singapore Amara Sanctuary Resort

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here


2024/2025 Institutional Investor Summit / Roundtable
March / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Senior investment team from Sovereign Wealth Funds, Pension Funds, Endowments, Foundations & Charities in Hong Kong, Singapore & Asia-Pacific at the 2024 Institutional Investor Summit / Roundtable.   Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2024/2025 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore

Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2024/2025 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit.  Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here





In 2017, the Hong Kong Securities & Futures Commission (SFC) had fined Danny Fung HKD 542,071.  He was also banned from the financial industry for life, and caused client to suffer losses from around HKD 2.6 million.

 

Hong Kong SFC Statement

Hong Kong, Asia’s leading financial centre

The offences of engaging in fraud or deception in transactions involving securities under the Securities and Futures Ordinance (SFO) in a criminal prosecution brought by the Securities and Futures Commission (SFC) (Notes 1 & 2).

Under section 300 of the SFO, it is an offence to engage in any act, practice or course of business which is fraudulent or deceptive in a transaction involving securities.

Danny Fung Kwong Shing was licensed to carry on Type 1 (dealing in securities) regulated activity under the SFO.  He was accredited to Fulbright Securities Limited during the periods from 1 September 2001 to 23 February 2005 and from 30 July 2008 to 6 November 2014.  On 23 November 2017, the SFC banned him from re-entering the industry for life.

SFC fines Danny Fung Kwong Shing and bans him for life, Fined HKD 542,071

In 2017, the Securities and Futures Commission (SFC) has banned Mr Danny Fung Kwong Shing, a former account executive of Fulbright Securities Limited (Fulbright Securities), from re-entering the industry for life and fined him HKD 542,071 (Notes 1 & 2). The disciplinary action follows an SFC investigation which found that between January 2013 and May 2014, Fung had:

  • conducted 772 unauthorized transactions in the account of his friend-cum-client, X, at Fulbright Securities;
  • fabricated telephone order recordings to mislead Fulbright Securities into believing that the orders for the transactions conducted in X’s account were placed by X; and impersonated another friend-cum-client, Y, and placed orders in Y’s account at Enhanced Securities Limited by telephone.
  • The investigation also revealed that at least 53 of the above-mentioned unauthorized transactions were conducted by Fung under a premeditated scheme to secure profits for Y, with the result that Y made profits from these transactions at X’s expense by selling shares to X at prices higher than the purchase prices.
  • X suffered a substantial loss of around $2.6 million as a result of all the unauthorized transactions.

The SFC considers that Fung’s conduct was gravely dishonest and that he is not a fit and proper person to be licensed.

Notes:

  • The amount of the fine is equivalent to the amount of profit made by Fung for Y and the commission he gained from the unauthorized transactions.
  • Fung was licensed to carry on Type 1 (dealing in securities) regulated activity under the Securities and Futures Ordinance. He was accredited to Fulbright Securities during the periods from 1 September 2001 to 23 February 2005 and from 30 July 2008 to 6 November 2014. Fung is currently not licensed by the SFC.



Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 17th Oct2024 Investment Day Singapore 7th Nov2024 Family Office Summit Hong Kong 17th Oct2024 Family Office Summit Singapore 7th Nov2025 Events












    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • July 2024 - Hong Kong
    • July 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Oct 2024 - Hong Kong
    • Nov 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014