Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Use of information defence (s292(3))
  • 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…