According to the Wise Money APP, on November 6, the Hong Kong Securities and Futures Commission banned Yao Weicheng (male) from re-entering the industry for 15 years. The above disciplinary action stemmed from a previous ruling by the Market Misconduct Tribunal (Tribunal) that Yao, as a former executive of Creation Wealth Capital Management (Hong Kong) Limited (Creation Wealth), was found to have engaged in market misconduct by engaging in false trades in the shares of Sinopharm Technology Co., Ltd. and Quantum Think Limited. He conducted these trades through the brokerage accounts of the hedge fund managed by Creation Wealth and his mother's brokerage account, resulting in a profit of 5.6 million yuan for his mother's account at the expense of the hedge fund's interests.

The Hong Kong Securities and Futures Commission believes that Yao is not a suitable person to be licensed. The Hong Kong Securities and Futures Commission, when deciding on the above disciplinary action, has taken into account all relevant circumstances, including: Yao engaging in manipulation for over two months to unlawfully benefit his mother, which is a serious and dishonest act; Yao betraying the trust and confidence of his clients; and the need to send a strong deterrent message to the market to prevent other practitioners from engaging in similar conduct in the future.