Newsletter – March 2020

Content
  1. SFC bans Chan Tan Lo for 14 months
  2. SFC bans Mo Shau Wah for life
  3. Market Misconduct Tribunal finds Magic Holdings International Limited and its directors culpable of late disclosure of inside information
1.     SFC bans Chan Tan Lo for 14 months

On 19 March 2020, SFC has banned Ms. Chan Tan Lo, a former relationship manager of BOCI Securities Limited for 14 months from 19 March 2020 to 18 May 2021.

For more details, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR22

For the Statement of Disciplinary Action, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/openAppendix?refNo=20PR22&appendix=0

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2.     SFC bans Mo Shau Wah for life

On 23 March 2020, SFC has banned Ms. Mo Shau Wah, a former account executive of China Pacific Securities Limited, from re-entering the industry for life following her criminal conviction.

For more details, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR23

For the reason for sentence, please refer to:
https://legalref.judiciary.hk/lrs/common/search/search_result_detail_frame.jsp?DIS=121814&QS=%24%28HCCC%2C12%5C%7C%5C13%2F2017%29&TP=RS

For the SFC press release dated 1 March 2013, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=13PR14

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3.     Market Misconduct Tribunal finds Magic Holdings International Limited and its directors culpable of late disclosure of inside information

On 25 March 2020, The Market Misconduct Tribunal found that Magic Holdings International Limited and five of its’ directors culpable of the company’s failure to disclose in a timely manner inside information on L’Oréal S.A.’s proposed acquisition of Magic Holdings International Limited in 2013, as required under the corporate disclosure requirements of the SFO.

For more details, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR24

For the SFC circular dated 15 May 2018, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=18PR49

For the Report of the Market Misconduct Tribunal of Hong Kong, please refer to:
https://www.mmt.gov.hk/eng/reports/Magic_Report%20_18.3.2020.pdf

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The article is for general information purpose only and is not intended to constitute legal or other professional advice.

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