Newsletter – July 2017
- Court of First Instance upholds convictions of Hong Kong Game Theory Association Limited and its sole director over unlicensed activities
- QMIS Securities Limited and former responsible officer convicted of giving SFC false or misleading information
- SFC issues restriction notice on W. Falcon Asset Management (Asia) Limited
- Hong Kong’s fund management business grows steadily in 2016
- SFC suspends Chan Wai Ling for 12 months
- Court sets pre-trial date for insider dealing case
- Court convicts licence applicant for providing SFC with false information
1. Court of First Instance upholds convictions of Hong Kong Game Theory Association Limited and its sole director over unlicensed activities
On 29 June 2017, the Court of First Instance has dismissed the appeal of Hong Kong Game Theory Association Limited and its sole director Mr Sze Ching Lok against their convictions for carrying on a business in advising on futures contracts without a licence.
For more details, please refer to:
For a copy of the Court of Appeal’s judgment (Only available in Traditional Chinese), please refer to:
http://legalref.judiciary.hk/lrs/common/ju/ju_frame.jsp?DIS=110120&currpage=T
2. QMIS Securities Limited and former responsible officer convicted of giving SFC false or misleading information
On 30 June 2017, the Eastern Magistrates’ Court has convicted QMIS Securities Limited and its former responsible officer, Mr Huang Kuang Cheng, of making false or misleading representations when submitting licensing information to the SFC.
For more details, please refer to:
3. SFC issues restriction notice on W. Falcon Asset Management (Asia) Limited
On 7 July 2017, SFC issued a Restriction Notice on W. Falcon Asset Management (0)(Asia) Limited to safeguard the assets of the firm and its clients, and to protect the interest of its clients and the investing public.
For more details, please refer to:
http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=17PR94
4. Hong Kong’s fund management business grows steadily in 2016
On 19 July 2017, SFC released its annual Fund Management Activities Survey which shows that the combined fund management business in Hong Kong increased by 5.2% year-on-year to HK$18,293 billion as of 31 December 2016.
For more details, please refer to:
http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=17PR98
5. SFC suspends Chan Wai Ling for 12 months
On 26 July 2017, SFC has suspended Ms Chan Wai Ling for 12 months from 26 July 2017 to 25 July 2018 for her failure to act in her clients’ best interests as she did not obtain her clients’ written authorization or inform her employer before she acted on the third party instructions.
For more details, please refer to:
For a copy of the Statement of Disciplinary Action report, please refer to:
6. Court sets pre-trial date for insider dealing case
On 26 July 2017, The Eastern Magistrates’ Court today adjourned the criminal proceedings brought by the SFC against Mr Lam Yik Tung, Mr Chan Lit Chun and Mr Anson Mui Ka Leung to 12 September 2017 for a pre-trial review after they pleaded not guilty to charges of insider dealing in the shares of Integrated Distribution Services Group Limited.
For more details, please refer to:
7. Court convicts licence applicant for providing SFC with false information
On 27 July 2017, The Eastern Magistrates’ Court today convicted Ms Yan Ching Ching after she pleaded guilty to three counts of making false or misleading representations in support of her licence application to the SFC.
For more details, please refer to:
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