Mr Mok Kee Tong short selling fine

On 8 July the FSC reported that Mr Mok Kee Tong, a licensed representative of Lehin Securities Limited, had been fined $54,000 after pleading guilty to 18 charges of illegally short selling. Mok was also instructed to pay the SFC investigation costs.

The SFC’s reported that its investigation found that between 3 September 2009 and 11 December 2009, Mok conducted intraday short selling involving 14 stocks traded on The Stock Exchange of Hong Kong Limited when he did not have a presently exercisable and unconditional right to sell them and did not believe or have reasonable grounds to believe that he had such right (thus constituting illegal short selling). Mok made a profit on each of the short selling occasions.

For further information please see Short Selling Fine