SFC bans ex-director of Crown Asset for life

The Securities and Futures Commission banned Pauline Cousins, former managing director of Crown Asset Management, from re-entering the investment industry for life. She was found to have produced between 2002 and 2006 four false portfolio valuation summaries to a client, the SFC said. She misled the client into believing he had invested HK$1.75 million in an investment-linked assurance scheme, but the money was actually invested in a hi-tech firm that was later put under administration. Cousins was sentenced to 21 months in prison last December.