Zhi Tong Cai Jing·2025-11-05 08:55Core Viewpoint - The Hong Kong Securities and Futures Commission (SFC) has permanently banned former Hang Seng Bank employee Zhang Yiyi from re-entering the industry due to his conviction for theft of client assets [1] Group 1: Incident Details - Zhang was found guilty of stealing a total of HKD 1,530,500 from a client’s account through 88 unauthorized withdrawals via ATMs between May 13, 2016, and February 7, 2017 [1] - He illegally retained the client's ATM card and password documents, sold the client's investments without authorization, and transferred HKD 1,203,182.4 back to the client's bank account to facilitate unauthorized withdrawals [1] Group 2: Regulatory Response - The SFC emphasized that Zhang, in his role as an account manager, held a position of trust but exploited this trust for personal gain, demonstrating a lack of basic integrity and ethical conduct expected from regulated individuals in the industry [1] - The decision to impose disciplinary action considered the severity and premeditated nature of Zhang's misconduct [1]