Hong Kong's SFC Bans Ex-Morgan Stanley Director For LifeVinicy Chan
Hong Kong’s Securities and Futures Commission has imposed a lifetime ban on Du Jun, a former Morgan Stanley managing director convicted of insider trading.
Du is forbidden to re-join the financial industry, the city’s securities watchdog said in a press release today. Du worked for Morgan Stanley in Hong Kong from 2001 until May 2007, when he was fired.
The disciplinary action follows the completion of criminal proceedings against Du for insider dealing in the shares of Citic Resources Holdings Ltd. Du was a part of a team of Morgan Stanley bankers advising Citic Resources on acquiring oilfield assets in China, the commission said in September.
The SFC wants to send a strong message to deter others from committing similar offenses, the regulator said in today’s statement.