Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Regulatory discretion to investigate

Legal area

Court

16 Nov 2018

WADDINGTON LTD v. SECURITIES AND FUTURES COMMISSION

Citation

[2018] HKCFI 2544
Court

Court of First Instance
Case number

HCAL199/2015

The decision of the SFC not to commence investigations was quashed because the SFC applied an incorrect legal threshold (effectively requiring proof of breach before investigation) and failed to take into account a clearly relevant matter — the findings of the CFI judgment — rendering the decision unlawful and Wednesbury unreasonable; the proper remedy was to remit the matter to the SFC for reconsideration taking those findings into account.
16 Jan 2006

WINNIE HO YUEN KI v. THE SECURITIES AND FUTURES COMMISSION

Citation

WINNIE HO YUEN KI v. THE SECURITIES AND FUTURES COMMISSION
Court

Court of First Instance
Case number

HCAL113/2005

The SFC reasonably and lawfully exercised its discretion not to investigate: there was no evidence of oppression or fraud, adequate disclosure had been made, the matters were remote or beyond the SFC's jurisdiction and of negligible impact on the Hong Kong market, and the decision was not irrational; consequently the proposed judicial review was unarguable and leave was refused.