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Trader banned from floor

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A STOCK exchange trader has been banned from the floor and rigorous restrictions imposed on her employer for helping other brokers to cheat their clients.

The action brings to four the number of brokerages publicly implicated in dishonest trading during the past three years.

Market rumour is that the investigative net is due to home in on two more major brokerages which are the target of action on market abuse.

Geraldine Wong Pui-ching of K S Kam & Co has been banned from the floor under Section 39 of the Securities Ordinance while a series of limits have been imposed on how her boss, K S Kam, trading as Kam & Co, can do business.

Restrictions include: A ban on cash business.

A ban on taking clients employed by other brokerages without the written permission of the other brokerage.

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