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Li Delun (Hong Kong financier)

From Alfawiki

William Lee Tak Lun (Chinese: 李德麟, BBS Bronze Bauhinia Star[1]) is a Hong Kong financier and entrepreneur. He is the founder of Grand Finance Group. He is the former chairman of the Chinese Gold and Silver Exchange Society in Hong Kong[2].

Biography

Originally from Yin County, Ningbo, Zhejiang, he was born into a financial family in Shanghai. His father, Lee Ho-sheng, was a renowned Hong Kong financier. William is the second son, with elder brother Lee Tak Chi[3]. At the age of 15, he moved with his father from Shanghai to Hong Kong. In 1989, he founded Grand Finance Group in Hong Kong and has since served as Chief Executive Officer and Vice Chairman of the Group[1].

In 2006, he was elected Chairman of the 40th session of the Chinese Gold and Silver Exchange Society in Hong Kong[4], and was re-elected Chairman of the 41st session. He is now Honorary Permanent President[1]. In June 2011, he was elected President of the Hong Kong Federation of Zhejiang Associations[5]. He is currently Vice Chairman of the Hong Kong General Chamber of Commerce[6], and a Standing Committee Member of the 12th National Committee of the Chinese People's Political Consultative Conference[7].

He has a daughter, Lee Wai-ching, and a son, Lee Wai-hong, both of whom are also financiers in Hong Kong[3].

Honours

  • 2012 – Awarded the Bronze Bauhinia Star by the Government of the Hong Kong Special Administrative Region[8]

Reprimands and Disciplinary Actions

  • On November 22, 2001, the Securities and Futures Commission (SFC) reprimanded William Lee in connection with an inquiry into the misappropriation of client assets by an employee of Datang Securities Limited between September 1998 and July 2000. The SFC found that the internal controls and supervision of staff at Datang Securities were inadequate to safeguard its operations and clients. As the dealing director responsible for overall operations, Mr. Lee was held directly accountable for these shortcomings.[9]
  • On November 2, 2009, the SFC stated that Datang Investment (Securities) Limited "turned a blind eye" to misconduct by two clients, and accordingly reprimanded the company. It also revoked the licenses of representatives William Lee and Chung Wing-han and temporarily suspended their responsible officer approvals for 12 months and 18 months, respectively. This decision was controversial, as the Court of Final Appeal overturned the prior rulings by the SFC and lower courts in 2012. The court found that the two clients had conducted high-volume trades of derivative warrants to earn rebate commissions from Macquarie Bank and not to manipulate trading volumes for profit. All charges against the two individuals were dismissed by the Court of Final Appeal.[10] The SFC has not provided any compensation to Datang or to the two responsible persons, Lee and Chung, following the judgment.[11]

References

  1. ↑ 1.0 1.1 1.2 https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-li_tang_1-0
  2. ↑ https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-2
  3. ↑ 3.0 3.1 https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-li_family_3-0
  4. ↑ https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-4
  5. ↑ https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-5
  6. ↑ https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-6
  7. ↑ https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-7
  8. ↑ https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-8
  9. ↑ https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-9
  10. ↑ https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-10
  11. ↑ https://zh.wikipedia.org/wiki/%E6%9D%8E%E5%BE%B7%E9%BA%9F_(%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%E5%AE%B6)#cite_ref-11
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