1. SFC obtains disqualification and court orders against former chairman and current directors of Hanergy Thin Film Power Group Limited
On 4 September 2017, the SFC obtained disqualification orders in the Court of First Instance against the former chairman, Mr Li Hejun, and four current independent non-executive directors, Ms Zhao Lan, Mr Wang Tongbo, Mr Xu Zheng and Mr Wang Wenjing, of Hanergy Thin Film Power Group Limited.
For more details, please refer to:
2. SFC issues statement on initial coin offerings
On 5 September 2017, the SFC issued a statement on existing regulations which could be applicable to initial coin offerings.
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3. SFC commences insider dealing prosecution in China CBM shares
On 7 September 2017, the SFC commenced criminal proceedings in the Eastern Magistrates’ Court against Mr Au-Yeung Siu Pang over alleged insider dealing in the shares of China CBM Group Company Limited.
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4. SFC publicly censures Chen Chi-Te and Kenneth C.M. Lo for breaches of the Takeovers Code
On 7 September 2017, the SFC has publicly censured Chen Chi-Te and Kenneth C.M. Lo for breaching the dealing provisions under the Takeovers Code.
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For a copy of the Executive Statement, please refer to:
5. SFC secures conviction against ETRADE Securities (Hong Kong) Limited for marketing of unlicensed US brokerage services in Hong Kong
On 21 September 2017, the Eastern Magistrates’ Court convicted ETRADE Securities (Hong Kong) Limited for actively marketing to the Hong Kong public US brokerage services provided by E*TRADE Securities LLC which was not a licensee of the SFC.
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6. SFC bans Shum Kam Ming for life
On 25 September 2017, the SFC has banned Mr Shum Kam Ming, a former account executive of Sincere Securities Limited, from re-entering the industry for life in connection with conducting unauthorized transactions in a client’s account.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action report, please refer to:
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