The Hong Kong Securities and Futures Commission barred Mr. Fok Chi Kin, a former vice president of JPMorgan Funds (Asia) Limited (JPFL), from engaging in any licensed securities activities for eight months for transferring proprietary information and client data on several occasions without permission from JPFL to BNP Paribas Investment Partners Asia Limited, his new employer. Specifically, the SFC found that Fok sent JPFL sales presentations and a client list to his personal email prior to leaving as an employee, and then transferred the client list to his email at BNP. In addition to the suspension, Mr. Fok was terminated from his position as a client relationship manager at BNP Paribas. JPFL discovered Mr. Fok’s wrongdoing as a result of an internal investigation. Separately, the SFC suspended Mr. Wu Biwei, a former responsible office and managing director of iSTAR International Futures Co. Limited (now known as Rifa Futures Limited) for six months for failing to comply with anti-money laundering regulatory requirements when processing third-party fund transfers. Earlier this year, SFC claimed that from January through July 2014 iSTAR accepted third-party deposits on behalf of clients without appropriate documentation and, in one instance, permitted a payment from a client’s account to the account of one of unnamed iSTAR officer; this officer now appears to have been Mr. Wu. iSTAR agreed to pay a fine of HK $3 million (approximately US $386,000) to resolve this matter. The SFC claimed that Mr. Wu, who was iSTAR’s most senior officer at the time, contributed to his firm’s failure to have proper AML controls. (Click here for further background on SFC’s allegations against iSTAR in the article “FINRA Resolves Charges Against Broker-Dealer for Inadequate Controls for Third-Party Payments From Customer Accounts; Hong Kong Regulator Sanctions Yet Another Broker for Similar Offense” in the April 16, 2016 edition of Bridging the Week.)