Newsletter – August 2018
- Market Misconduct Tribunal finds China AU’s former CEO and related persons culpable of market manipulation
- SFC bans Cham Nga Yin for life
- Court sets pre-trial date for false or misleading announcement case
- Consultation Paper on the Proposed Guidelines for Securities Margin Financing Activities
- SFC reprimands and fines HPI Forex Limited HK$2 million for regulatory breaches
- SFC bans Fonia Kwok Lai Kwan for 12 months
1. Market Misconduct Tribunal finds China AU’s former CEO and related persons culpable of market manipulation
On 7 August 2018, the Market Misconduct Tribunal (“MMT”) has found that Ms Samantha Keung Wai Fun, former CEO of China AU Group Holdings Limited (“China AU”), her friend Ms Wu Hsiu Jung and a business partner Mr Chen Kuo Chen, engaged in market misconduct by false trading in the shares of China AU following proceedings brought by the SFC.
For more details, please refer to:
For a copy of the SFC’s Notice commencing the MMT proceedings, please refer to:
http://www.mmt.gov.hk/eng/reports/Report_of_SkyNet_(China_AU)_PartI_e.pdf
2. SFC bans Cham Nga Yin for life
On 9 August 2018, the SFC has banned Ms Cham Nga Yin from re-entering the industry for life for misappropriation of clients’ money. Cham was a former licensed representative of Tanrich Futures Limited, now known as Southwest Securities (HK) Futures Limited.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action, please refer to:
3. Court sets pre-trial date for false or misleading announcement case
On 9 August 2018, the Eastern Magistrates’ Court adjourned the criminal proceedings brought by the SFC against Mr Chan Wai Chuen, former director of DBA Telecommunication (Asia) Holdings Limited (“DBA”), to 27 September 2018 for a pre-trial review after he pleaded not guilty to a charge of making a false or misleading statement in relation to the results announcement issued by DBA on 28 March 2013.
For more details, please refer to:
4. Consultation Paper on the Proposed Guidelines for Securities Margin Financing Activities
On 17 August 2018, the SFC published a Consultation Paper on the Proposed Guidelines for Securities Margin Financing Activities.
For more details, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/consultation/openFile?refNo=18CP7
5. SFC reprimands and fines HPI Forex Limited HK$2 million for regulatory breaches
On 22 August 2018, the SFC has reprimanded and fined HPI Forex Limited HK$2 million for mis-handling client money.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action, please refer to:
6. SFC bans Fonia Kwok Lai Kwan for 12 months
On 27 August 2018, the SFC has banned Ms Fonia Kwok Lai Kwan from re-entering the industry for 12 months from 25 August 2018 to 24 August 2019 following her conviction for unlicensed asset management.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action, please refer to:
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