Hong Kong SFC Issues Lifetime Ban to Ex-OCBC Wing Hang Bank Manager Amy Chow Bic Sum after Hong Kong Court Conviction of Bribery & Sentenced to 4 Weeks Jail, Offered OCBC Wing Hang Credit Employee Rebates for Referring OCBC Clients to External Party for Mortgage Refinancing with Other Financial Institutions
14th December 2023 | Hong Kong
The Hong Kong Securities & Futures Commission (SFC) has issued a lifetime ban to former OCBC Wing Hang Bank manager Amy Chow Bic Sum after a Hong Kong court conviction of bribery & sentenced to 4 weeks jail, with Amy Chow offering rebates to an employee of OCBC Wing Hang Credit for referring OCBC clients to external party for mortgage refinancing with other financial institutions. Hong Kong SFC: “The Kwun Tong Magistrates’ Court found that on 15 July 2021, Chow, who handled residential mortgage applications at OCBC, offered an employee of OCBC Wing Hang Credit Limited (OCBC Credit) a rebate of referral fees from an external party as a reward for referring OCBC Credit’s clients to that party, who would in turn arrange mortgage refinancing from other banks or financial institutions.” More info below:
“ Hong Kong SFC Issues Lifetime Ban to Ex-OCBC Wing Hang Bank Manager Amy Chow Bic Sum after Hong Kong Court Conviction of Bribery & Sentenced to 4 Weeks Jail, Offered OCBC Wing Hang Credit Employee Rebates for Referring OCBC Clients to External Party for Mortgage Refinancing with Other Financial Institutions “
Hong Kong SFC Issues Lifetime Ban to Ex-OCBC Wing Hang Bank Manager Amy Chow Bic Sum after Hong Kong Court Conviction of Bribery & Sentenced to 4 Weeks Jail
13th Dec 2023 – The Securities and Futures Commission (SFC) has banned Ms Amy Chow Bik Sum, a former assistant customer service manager of OCBC Wing Hang Bank Limited (OCBC), from re-entering the industry for life following her conviction of bribery offence (Notes 1 & 2).
The Kwun Tong Magistrates’ Court found that on 15 July 2021, Chow, who handled residential mortgage applications at OCBC, offered an employee of OCBC Wing Hang Credit Limited (OCBC Credit) a rebate of referral fees from an external party as a reward for referring OCBC Credit’s clients to that party, who would in turn arrange mortgage refinancing from other banks or financial institutions (Note 3).
The SFC considers that Chow is not a fit and proper person to be licensed or registered to carry on regulated activities as a result of her criminal conviction. The case was referred to the SFC by the HKMA.
Notes:
- Chow was a relevant individual engaged by OCBC to carry on Type 1 (dealing in securities) regulated activity under the Securities and Futures Ordinance between 19 October 2017 and 18 July 2021. Chow is currently not registered with the Hong Kong Monetary Authority (HKMA) or licensed by the SFC.
- On 19 April 2023, Chow was convicted by the Kwun Tong Magistrates’ Court after pleading guilty to one count of offering an advantage to an agent contrary to sections 9(2) and 12(1) of the Prevention of Bribery Ordinance. She was sentenced to four weeks’ imprisonment on 5 May 2023.
- OCBC Credit is a subsidiary of OCBC engaging in the business of money lending.
Sign Up / Register
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
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
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
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit