The Securities and Futures Commission has banned a relationship manager from DBS Bank from re-entering the industry for life.

The Securities and Futures Commission, the regulatory body for securities and futures markets in Hong Kong, has banned a relationship manager from DBS Bank from re-entering the industry for life. 

Ivy Kiu Koon was sentenced by the Court of First Instance on 19 September 2011 to imprisonment of 79 months on six counts of theft and two counts of dealing with property known or reasonably believed to represent proceeds of an indictable offence. 

According to an announcement on the SFC website, the court found that while Kiu was a relationship manager at DBS Bank (Hong Kong) in 2004 to 2009 she had stolen over $26 million from the foreign currency and Hong Kong dollar deposits in four customers' accounts that she serviced. Kiu transferred the money, without authority, to her mother's own bank and securities accounts and to other client accounts by forging bank documents or using blank transaction vouchers pre-signed by the four clients.

The case was referred to the SFC by the Hong Kong Monetary Authority. SFC concluded that Kiu is "not a fit and proper person to be licenced."