Hong Kong's Securities and Futures Commission (SFC) has banned Philip John Shaw, a former responsible officer (RO), board member and head of Pan-Asia Execution Services of Citigroup Global Markets Asia Limited (CGMAL), from re-entering the industry for 10 years from 4 March 2023 to 3 March 2033. The disciplinary action follows the SFC's earlier sanctions against CGMAL for serious regulatory breaches and internal control failures in allowing various trading desks under its Cash Equities business to disseminate mislabelled Indications of Interest (IOIs) and make misrepresentations to insti...
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