28 Oct 2013
THE SECURITIES AND FUTURES COMMISSION v. YOUNG BIK FUNG AND OTHERS
- Citation
- THE SECURITIES AND FUTURES COMMISSION v. YOUNG BIK FUNG AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP2575/2010
The applications were dismissed because the issues raised involved novel questions of law and disputed facts such that it was not plain and obvious the claims under s291 and s300 were unsustainable; the natural meaning of s300 does not require the person defrauded to be a party to the securities transaction and the device/scheme limb can cover misuse of confidential information; it was at least arguable Hong Kong had jurisdiction given substantial relevant acts occurred in Hong Kong; consequently strike out and preliminary determination were inappropriate and the issues must proceed to trial.