Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Listing rules breaches

Legal area

Court

6 Nov 2019

SECURITIES AND FUTURES COMMISSION v. CHIN JONG HWA AND OTHERS

Citation

[2019] HKCFI 2735
Court

Court of First Instance
Case number

HCMP891/2014

On the agreed facts the respondents’ conduct engaged the court’s jurisdiction under s214 SFO: the Company made false or misleading disclosures and failed to disclose a connected acquisition and related material facts; the 1st Respondent’s conduct (without allegation of dishonesty) warranted a middle‑bracket disqualification of 6 years and a compensation order of RMB 12,000,000 plus interest; the 2nd–4th Respondents’ lesser culpability warranted minimum‑bracket disqualifications of 3 years; the orders accord with regulatory objectives and the Carecraft settlement agreed with the SFC.
24 Jan 2018

SECURITIES AND FUTURES COMMISSION v. FAN DI AND OTHERS

Citation

[2018] HKCFI 346
Court

Court of First Instance
Case number

HCMP1761/2009

On the agreed facts the 1st Respondent authorised and caused substantial unauthorised payments, failed to obtain board approval, failed to conduct or disclose due diligence, and caused Listing Rules breaches; those facts amounted to defalcation, misfeasance and conduct engaging s214(1)(b) and (c), attracting the court's jurisdiction to disqualify, and the conduct fell into the middle severity bracket justifying a six year disqualification order (plus costs as agreed).