HK life ban for Union Securities duo

Hong Kong’s securities regulator has revoked the licences of brokerage Union Securities and its two responsible officers for misappropriating client assets, creating false statements, making a false declaration and breaching licensing conditions. The Securities and Futures Commission (SFC) also banned Ma Kin-Chung and Cheng Tai-Ha from re-entering the industry for life. The pair left Hong Kong in late 2012. They were found to have misappropriated about HK$400,000 ($38,000) from …