Former HSBC sales duo banned for life

Hong Kong’s securities regulator has banned Chau Hang-Yu and Steve Chow Chun-Yin, both former employees of HSBC, from the industry for life following criminal convictions for fraud. Chau and Chow, who were responsible for selling investment products at HSBC and knew one another at the material times, made false claims in 2012 and 2014 that certain customers had agreed to buy unit trust funds (UTFs). They received sales commission after HSBC processed the subscription orders in t…