Newsletter – December 2017
- Court sets pre-trial date for insider dealing case
- Court dismisses challenge to SFC’s search warrant and provision of information to Mainland regulator
- SFC bans Abbie Yip Ka Ying for 18 months
- SFC reprimands and fines FXCM Asia Limited HK$2 million
- SFC reprimands and fines Standard Chartered Securities (Hong Kong) Limited HK$2.6 million
1. Court sets pre-trial date for insider dealing case
On 8 December 2017, the Eastern Magistrates’ Court adjourned the criminal proceedings brought by the SFC against Mr Au-Yeung Siu Pang to 26 January 2018 for a pre-trial review after he pleaded not guilty to charges of insider dealing in the shares of China CBM Group Company Limited.
For more details, please refer to:
http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/enforcement-news/doc?refNo=17PR120
2. Court dismisses challenge to SFC’s search warrant and provision of information to Mainland regulator
On 8 December 2017, the Court of First Instance has made a decision dismissing a challenge lodged by Mr Tang Hanbo against the search warrant obtained by the SFC for an ongoing investigation into suspected breaches of the Takeovers Code and suspected offences under the Securities and Futures Ordinance.
For more details, please refer to:
http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/enforcement-news/doc?refNo=17PR146
For a copy of the Court of Appeal’s judgment, please refer to:
3. SFC bans Abbie Yip Ka Ying for 18 months
On 13 December 2017, the SFC has banned Ms Abbie Yip Ka Ying, a former trader of BNP Paribas, Hong Kong Branch, from re-entering the industry for 18 months for breach of the Code of Conduct over her attempts to conceal a trade execution error.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action, please refer to:
4. SFC reprimands and fines FXCM Asia Limited HK$2 million
On 13 December 2017, the SFC has reprimanded and fined FXCM Asia Limited (now known as Rakuten Securities Hong Kong Limited) HK$2 million for regulatory breaches and internal control failings relating to under-segregation of client money.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action, please refer to:
http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/enforcement-news/openAppendix?refNo=17PR150&appendix=0
5. SFC reprimands and fines Standard Chartered Securities (Hong Kong) Limited HK$2.6 million
On 18 December 2017, the SFC has reprimanded and fined Standard Chartered Securities (Hong Kong) Limited HK$2.6 million for internal control failures relating to short selling orders and breach of the Securities and Futures (Financial Resources) Rules.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action, please refer to:
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.
To subscribe, update your email address or unsubscribe, please email [email protected]