Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Stay of disciplinary proceedings

Legal area

Court

7 May 1998

NOMURA INTERNATIONAL (HONG KONG) LTD AND OTHERS v. SECURITIES AND FUTURES COMMISSION

Citation

NOMURA INTERNATIONAL (HONG KONG) LTD AND OTHERS v. SECURITIES AND FUTURES COMMISSION
Court

Court of Appeal
Case number

CACV34/1998

The Court of Appeal held the judge below erred by finding a real risk of serious prejudice on the evidence; the applicants produced only general, unparticularized assertions of inconvenience and resource burden which fell short of the stringent test; public interest in timely regulatory enforcement prevailed; appeal allowed and Prohibition Order set aside.
22 Dec 1997

NOMURA INTERNATIONAL (HONG KONG) LTD AND OTHERS v. SECURITIES & FUTURES COMMISSION

Citation

NOMURA INTERNATIONAL (HONG KONG) LTD AND OTHERS v. SECURITIES & FUTURES COMMISSION
Court

Court of First Instance
Case number

HCAL108/1997

On the balance of probabilities the Applicants established a real risk of prejudice and potential injustice from simultaneous full disciplinary progression in Hong Kong while preparing for the Australian trial; the public interest did not outweigh that prejudice for a limited period. Accordingly the Court granted a prohibition preventing the SFC from requiring responses to the Letters of Mindedness in respect of specified applicants until 31 May 1998 and ordered costs for the Applicants.