23 May 2014
THE SECURITIES AND FUTURES COMMISSION v. ERNST & YOUNG (a firm)
- Citation
- THE SECURITIES AND FUTURES COMMISSION v. ERNST & YOUNG (a firm)
- Court
- Court of First Instance
- Case number
- HCMP1818/2012
The court held EY was in possession (including power) of records and documents responsive to SFC's notices, EY failed to prove a reasonable excuse based on PRC law for non-compliance, and PRC law did not establish a blanket prohibition on transmission absent demonstration that the materials contain state or commercial secrets; accordingly the court ordered EY to comply with the notices within 28 days and to pay SFC's costs on an indemnity basis.