Salisbury Securities directors banned for life

Hong Kong’s Securities and Futures Commission (SFC) has handed life bans for misconduct to former Salisbury Securities directors Roger Albert John and Hamish Gordon Cruden. An SFC investigation found the securities firm had misused or misapplied securities and sale proceeds to settle another client’s instructions and to discharge its own operational expenses; failed to maintain the required minimum level of liquid capital from April 2012 to February 2013; and provided false and mi…