However, the SFC subsequently found out that at the time of the 11 June Report, Nomura Hong Kong was already aware of Mr X's misconduct, as he had admitted to making false entries in Nomura Hong Kong's risk management system to conceal the real risk exposure of his trades and to providing false information to Nomura Hong Kong. None of these matters were disclosed to the SFC immediately when they should have been under the Code of Conduct. The SFC also found out that by the time Mr X left Hong Kong following the termination of his secondment with Nomura Hong Kong, Nomura Hong Kong had already noticed some apparent discrepancies between his actual trading activities and the information he had provided to management. Mr X was sent back to Nomura Japan before the SFC had been properly alerted and before Nomura Hong Kong had completed its internal investigation into his conduct.