The Securities and Futures Commission has banned Joyce Hsu Ming-mei, a former employee of Merrill Lynch (Asia Pacific), from getting any licence from the regulator to work in the financial industry for life. The SFC action came after the Court of Appeal in November dismissed Hsu's appeal against her conviction and a 42-month imprisonment sentence. The District Court in February 2011 found her guilty of theft and access to computer for dishonest intent. Between September 2007 and February 2008, Hsu had conducted a number of unauthorised transactions and fund transfers through her customer accounts when she worked for Merrill Lynch. Enoch Yiu
Gold imports into the mainland from Hong Kong surged 94 per cent to an all-time high last year as rising incomes in the world's second-largest economy underpinned increased demand and helped the metal to post a 12th annual gain. The mainland imported 834,502 kilograms, including scrap and coins, compared with about 431,215 kilograms in 2011, based on data from the Census and Statistics Department of the Hong Kong government. Imports in December rose to a monthly record of 114,405 kg, according to data from the department yesterday. China was expected to displace India as the world's biggest gold consumer last year. Bloomberg
