Columnist Beyond Reproach For Pushing Stocks He Owned In A Newspaper Column Without Telling Readers, But Not For Failing To Run It By His Superiors

Author:
Updated:
Original:

Pump-and-dump schemes are a-OK in Hong Kong—if you give your bosses a heads up.

The Securities and Futures Commission found that on 25 occasions from March 2009 to March 2010, Mr. Cheung bought stocks through an undisclosed account registered in his wife’s name and, shortly afterward, published newspaper columns talking up those stocks….

Licensed brokers in Hong Kong are permitted to trade on the side for personal profit, but must disclose this to their employers and have the activity vetted by their senior managers. Mr. Cheung did not declare his activity to his employer at the time, the local brokerage Quam Group. He now works at the Hong Kong unit of Taiwan’s Polaris Securities.

Hong Kong Broker Fined for Hyping Undisclosed Trades [DealBook]

Related

Housekeeping: Dealbreaker Is Looking For Columnists

Do you want to write things on Dealbreaker? We are looking for a few more regular columnists to write regularly on the areas of their expertise and interest. Topics could include private equity, hedge funds, b-school, stripping one’s way through b-school, or something that has absolutely nothing to do with any of those things but which you are particularly passionate about. Topics like "what I am thinking about this week" or "finance!" will probably be less successful. If you are interested, and can commit to writing a column each week or so, please get in touch and tell us who you are (a resume if you want, or just what you do) and what you'd like to write about. A sample post on your idea would also be great. As always, if you are currently gainfully employed on Wall Street (and would like to stay that way) for a firm that would not look favorably on a part-time writing career, anonymous/pseudonymous columns are fine.