Hong Kong's SFC hands lifetime ban to jailed asset manager

Hong Kong managing director of Crown Asset Management banned from industry for life


The Hong Kong Securities and Futures Commission (SFC) has handed a lifetime ban from the industry to a former managing director at Crown Asset Management.
The regulator said Pauline Ellen Cousins “produced four false valuation summaries to a client” between 2002 and 2006.

She repeatedly produced portfolio summaries belonging to other clients to one particular client, misleading him into believing he had invested $1.75 million in “an investment lined assurance scheme”. However, in reality, Cousins had put the funds into a technology company that would later enter administration.

Cousins’ licence was originally revoked by the SFC in 2006, when it began investigating the case, which was later referred to the Hong Kong Police Force’s commercial crime bureau. In 2009, the former asset manager was also found guilty in a criminal case on four counts of furnishing false information, and was subsequently jailed for 21 months in December last year.


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