Newsletter – October 2017

Content

  1. Court allows TVB’s judicial review
  2. SFC bans Xu Tao for four months
  3. Court of Appeal dismissed Moody’s leave application to appeal to the Court of Final Appeal

 

1. Court allows TVB’s judicial review

On 4 October 2017, the Court of First Instance has granted leave and allowed a judicial review of the Takeovers and Mergers Panel’s ruling in relation to a share buy-back offer announced by Television Broadcasts Limited in January 2017.

For more details, please refer to:

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=17PR127

For the Judgment, please refer to:

http://www.judiciary.hk/en/index/index.htm

<back to top>

2. SFC bans Xu Tao for four months

On 11 October 2017, the SFC has prohibited Mr Xu Tao, a former investment consultant of China International Capital Corporation Hong Kong Securities Limited, from re-entering the industry for four months from 11 October 2017 to 10 February 2018 due to improper means to accept order transactions from clients.

For more details, please refer to:

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/enforcement-news/doc?refNo=17PR129

For a copy of the Statement of Disciplinary Action report, please refer to:

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/enforcement-news/openAppendix?refNo=17PR129&appendix=0

<back to top>

3.  Court of Appeal dismissed Moody’s leave application to appeal to the Court of Final Appeal

On 18 October 2017, the Court of Appeal dismissed Moody’s Investors Service Hong Kong Limited’s (“Moody’s”) application for leave to appeal to the Court of Final Appeal in the matter of the SFC disciplinary action in relation to a special comment report published by Moody’s in 2011.

For more details, please refer to:

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/enforcement-news/doc?refNo=17PR132

For a copy of the Court of Appeal’s judgment, please refer to:

http://legalref.judiciary.hk/lrs/common/search/search_result_detail_frame.jsp?DIS=109835&QS=%2B&TP=JU

<back to top>

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

Receipt of this newsletter indicates that CompliancePlus has been using your email address to market to you the compliance services that CompliancePlus is able to provide you.

CompliancePlus provides compliance consulting services to financial companies, hedge fund managers and individuals. Our dedicated team of compliance officers has years of professional experience equipped with in-depth knowledge of both functional and compliance experience in managing and minimizing regulatory, operational and reputational risks. By partnering with CompliancePlus, our clients gain access to compliance solutions that they can trust and the latest knowledge of regulatory policies and procedures.

For enquiries, please email: [email protected] or call at +852-3487 6903.
To subscribe, update your email address or unsubscribe, please email [email protected]