THE Securities and Futures Commission (SFC) has suspended the registrations of two dealer's representatives for a year for 'rat trading'. Rat trading is defined as brokerage staff profiting at the expense of their customers. The regulator investigated the trading activities of Law Sui-hoi and Wong Kam-lee, employed as floor traders by Arthur Cheng Kin-yun who trades as Chi Hing Co, from March to August 1993. Law and Wong admitted trading through a securities account opened in the name of one of Law's relatives. It was found they made more than $132,000 from the account. In taking over trades that should have been allocated to their clients, they had breached Section 39 of the SFC ordinance. The SFC said the one-year ban was made on the grounds that they had been co-operative during the investigation. A spokesman said: 'The SFC will take strong enforcement action against registered persons who fail to act honestly, fairly and in the best interests of the clients.' The two were banned by the stock exchange from the trading floor last year.