THE Securities and Futures Commission (SFC) has revoked the dealer registration of Lam Fook-hoi, trading as Gentle Securities, and reprimanded one of its representatives after an investigation revealed instances of false accounting. The SFC said Gentle's clients had apparently been misled by being informed of and credited with less favourable prices for stock bought on their behalf than had been paid. The SFC found Gentle representative Choi Suet-kwan to have been primarily responsible for preparing the company's accounting records. It appeared that Ms Choi had been aware, or should have been aware, of the false accounting, and that she had helped Lam carry out the false accounting, although it had not been shown Ms Choi had benefited personally from the activities. Lam pleaded guilty before magistrates to three counts of false accounting. The Stock Exchange of Hong Kong subsequently publicly censured him and he resigned as a stock exchange member. Ms Choi was suspended earlier by the stock exchange for helping Lam conduct false accounting as an authorised clerk for four months. SFC spokesman Wesley McDade said the commission expected registered intermediaries to act in the best interests of their clients. and perform their functions honestly and fairly.