23 Aug 2011
SECURITIES AND FUTURES COMMISSION v. CHAN PAK HOE PABLO
- Citation
- SECURITIES AND FUTURES COMMISSION v. CHAN PAK HOE PABLO
- Court
- Court of First Instance
- Case number
- HCMA754/2010
The Court held that the appellant was privy to specific, price-sensitive information about negotiations for the sale of Globalcrest's controlling holding in Universe, that the information was not public and would likely materially affect the share price; the appellant knew the information and used it to trade for profit, so his conviction for insider dealing was safe. However, the magistrate lacked jurisdiction under Magistrates Ordinance s104(9) to review and increase the sentence after the appellant had lodged a notice of appeal, so the review-imposed sentence was void and the original CSO…