The Securities and Futures Commission (SFC) has permanently barred Charles Lam Chung Yiu, a former UBS associate director, from the financial industry due to his criminal convictions. Lam was sentenced to seven years in prison on November 7, 2023, for theft and handling stolen property. Between March and October 2020, Lam abused his access at UBS to misdirect over $1.8 million into his accounts. His actions involved altering recipient information for a client compensation project and laundering the stolen funds through various bank accounts.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR143