Hong Kong’s Securities and Futures Commission announced Wednesday that it has banned Tim Leissner, a former participating managing director at Goldman Sachs (Asia), from re-entering the industry for life in connection with his crimes relating to 1MDB, the Malaysian government’s sovereign wealth fund.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...