14 Mar 2014
HKSAR v. LI JIALIN
- Citation
- HKSAR v. LI JIALIN
- Court
- Court of Appeal
- Case number
- CACC457/2012
The Court held that 'price' in s.296(1) of the SFO is to be measured by the Stock Exchange's 'nominal price'; nominal price is precise, readily calculable, incorporates the last traded price and order book indications, and is the appropriate metric to determine whether trades that do not change beneficial ownership had the effect of increasing price; applying that metric the applicant's transactions increased the nominal price and the convictions are safe.