Newsletter – October 2019

Content
  1. SFC bans Vincent Ng Lok Kan for 30 months
  2. SFC reprimands and fines SEAVI Advent Ocean Private Equity Limited HK$1 million
  3. SFC obtains disqualification orders against former chairman and executive directors of Inno-Tech Holdings Limited
  4. SFC seeks compensation and disqualification orders against Perfect Optronics Limited’s chairman and board members
  5. SFC commences insider dealing prosecution against a former staff of Hong Kong Television Network Limited

 

1.     SFC bans Vincent Ng Lok Kan for 30 months

On 2 October 2019, SFC has banned Mr. Vincent Ng Lok Kan, a former licensed representative of Sun Hung Kai Investment Services Limited, from re-entering the industry for 30 months from 27 September 2019 to 26 March 2022.

For more details, please refer to:

https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=19PR89

For the Statement of Disciplinary Action, please refer to:

https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/openAppendix?refNo=19PR89&appendix=0

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2.     SFC reprimands and fines SEAVI Advent Ocean Private Equity Limited HK$1 million

On 3 October 2019, SFC has reprimanded and fined SEAVI Advent Ocean Private Equity Limited HK$1 million for breach of the Code of Conduct.

For more details, please refer to:

https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=19PR92

For the Statement of Disciplinary Action, please refer to:

https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/openAppendix?refNo=19PR92&appendix=0

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3.     SFC obtains disqualification orders against former chairman and executive directors of Inno-Tech Holdings Limited

On 4 October 2019, SFC has obtained disqualification orders in the Court of First Instance against former chairman and executive director, Ms. Wong Yuen Yee, and three former executive directors, namely, Mr. Robert Wong Yao Wing, Mr. Wong Kwok Sing and Mr. Lam Shiu San, of Inno-Tech Holdings Limited.

For more details, please refer to:

https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=19PR93

For SFC’s press release dated 9 March 2015, please refer to:

https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=15PR20

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4.     SFC seeks compensation and disqualification orders against Perfect Optronics Limited’s chairman and board members

On 8 October 2019, SFC has commenced legal proceedings in the Court of First Instance to seek court orders against Mr. Cheng Wai Tak, the chairman and executive director of Perfect Optronics Limited, and the rest of its’ directors for their alleged breach of fiduciary duties.

For more details, please refer to:

https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=19PR95

For SFC’s press release dated 27 September 2019, please refer to:

https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=19PR87

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5.     SFC commences insider dealing prosecution against a former staff of Hong Kong Television Network Limited

On 24 October 2019, SFC has commenced criminal proceedings in the Eastern Magistrates’ Court against Mr. Ken Yiu Ka Lun, a former senior regulatory affairs manager of Hong Kong Television Network Limited (“HKTV”), for alleged insider dealing in the shares of HKTV.

For more details, please refer to:

https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=19PR98

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

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