The Securities and Futures Commission yesterday suspended an investment adviser's registration after it was found he made multiple applications for shares in initial public offerings (IPOs). The commission suspended Winston Lau Man-leong for two years as an investment adviser and commodities trading adviser after an investigation found he made multiple applications for shares in two IPOs last year. SFC executive director of enforcement Mark Dickens said: 'Mr Lau's actions amounted to serious misconduct and seriously impugned his fitness and properness to be registered.' The SFC also suspended the registration of Chan Kwai-ming as a dealer's representative of Yicko Securities for two years. The SFC found Mr Chan created a nominee account from February to November last year in his wife's name to conduct personal trading and engaged in short selling and trading malpractices. The SFC also successfully prosecuted Chu Poy-ying, Michael Chan Man-tin and Ping On Securities for abetting three employees of Ping On Securities in unregistered dealing during December 1996 to March last year. They were each fined $3,000 and ordered to pay $30,000 in costs. The SFC also prosecuted the dealer's representative of Ping On Securities, Leung Chi-bun, and its clients Chang Shun-yu and Ho Yin-shan for short selling securities.