Newsletter – January 2017
- Market Misconduct Tribunal finds Greencool’s former chairman and senior executives culpable of market misconduct
- SFC reprimands and fines MIS Services Limited (formerly known as Standard Chartered Investment Services Limited) HK$3 million for regulatory breaches
- SFC bans Cheung Kwan Po for six months
- SFC reprimands and fines Chang Chyi
- SFC bans Choi Siu Ki for nine months
- Court of Appeal dismisses leave application of Citron Research’s Andrew Left
1. Market Misconduct Tribunal finds Greencool’s former chairman and senior executives culpable of market misconduct
On 30 December 2016, the Market Misconduct Tribunal (“MMT”) has found that the former chairman and chief executive officer of Greencool Technology Holdings Limited, Mr Gu Chujun, and four former senior executives (including its former financial controller) disclosed false or misleading information inducing transactions and so engaged in market misconduct under the SFO following proceedings brought by the SFC.
For a copy for the MMT Report, please refer to:
http://www.mmt.gov.hk/eng/reports/Greencool_Technology_Holdings_Limited_Report_e.pdf
For more details, please refer to:
http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/enforcement-news/doc?refNo=16PR148
2. SFC reprimands and fines MIS Services Limited (formerly known as Standard Chartered Investment Services Limited) HK$3 million for regulatory breaches
On 3 January 2017, the SFC has reprimanded and fined MIS Services Limited (formerly known as Standard Chartered Investment Services Limited) HK$3 million for its failure to comply with regulatory requirements under the SFC Code on MPF Products and Fund Manager Code of Conduct.
For more details, please refer to:
http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=17PR1
3. SFC bans Cheung Kwan Po for six months
On 5 January 2017, the SFC has banned Mr Cheung Kwan Po, a former employee of Citibank (Hong Kong) Limited, from re-entering the industry for six months from 5 January 2017 to 4 July 2017.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action, please refer to:
4. SFC reprimands and fines Chang Chyi
On 6 January 2017, the SFC has reprimanded and fined Mr Chang Chyi, an employee of Core Pacific – Yamaichi International (HK) Limited, HK$50,000 for breach of the Code of Conduct for Persons Licensed by or Registered with the SFC.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action, please refer to:
5. SFC bans Choi Siu Ki for nine months
On 9 January 2017, the SFC has prohibited Mr Choi Siu Ki, a former financial planning manager of Dah Sing Bank Limited, from re-entering the industry for nine months from 7 January 2017 to 6 October 2017 for forging client signatures.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action, please refer to:
6. Court of Appeal dismisses leave application of Citron Research’s Andrew Left
On 13 January 2017, the Court of Appeal has dismissed Mr Andrew Left’s application for leave to appeal against the determination of the MMT on questions of fact.
For more details, please refer to:
The article is for general information purpose only and is not intended to constitute legal or other professional advice.
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