The Insurance Authority (IA) and the Hong Kong Monetary Authority (HKMA) have jointly issued a press release announcing disciplinary action against Mr. Chan Ka Hey, a former technical representative of an authorized institution. Mr. Chan has been prohibited from applying for a license for six months due to his lack of fitness and suitability. The disciplinary action was taken based on information gathered by the HKMA during its investigation into Mr. Chan’s conduct. The investigation revealed that Mr. Chan had fabricated a direct debit authorization (DDA) form by cutting out a client’s signature from a signed form and pasting it onto a blank form. He then submitted the fabricated form to deceive the insurer and his employer. The IA considered the investigation findings and concluded that Mr. Chan’s actions demonstrated a serious lack of integrity, rendering him unfit for his role as a technical representative. The IA imposed the disciplinary sanction, taking into account mitigating factors such as Mr. Chan’s admission of misconduct, his clean disciplinary record, and the need to deter similar behavior. The IA and the HKMA emphasized the importance of ethical standards and collaboration in maintaining the integrity of the financial services industry.