Hong Kong Case Law: Decisions & Judgments

Topic

Suitability of investment advice

Legal area

Court

27 May 2020

ZILLION GLOBAL LTD v. UBS AG

Citation

[2020] HKCFI 953
Court

Court of First Instance
Case number

HCA1754/2014

Transcripts of the Singapore trial relating to Mr Pan's investment experience and risk appetite and Ms Zhang's knowledge, experience and role are relevant under the Peruvian Guano test and disclosure is necessary for the fair disposal of the action under Order 24 rule 8; the plaintiff failed to show disclosure unnecessary or oppressive, therefore an order for specific discovery must be made.
25 May 2011

HKSAR v. TAI CHING

Citation

HKSAR v. TAI CHING
Court

District Court
Case number

DCCC1272/2010

The court found material inconsistencies and unreliable recollections in the prosecution witnesses' evidence, contemporaneous documents and reliable bank witnesses contradicted the allegations, and therefore the prosecution failed to prove beyond reasonable doubt that the defendant made false or reckless misrepresentations; defendant acquitted.
13 Sept 2006

ANDREW NICHOLAS BARBER v. SECURITIES AND FUTURES COMMISSION

Citation

ANDREW NICHOLAS BARBER v. SECURITIES AND FUTURES COMMISSION
Court

Court of Appeal
Case number

CACV236/2005

The Court held the Tribunal's majority conclusion was open on the evidence and not perverse: the appellant, as an independent investment adviser, breached the Code by failing to take reasonable steps to assess suitability and to explain and illustrate the magnified downside risks (currency movement and margin calls) of the leveraged forex transaction to this client; the one‑month suspension was not excessive and the appeal was dismissed.

Hong Kong Case Law

ZILLION GLOBAL LTD v. UBS AG

HKSAR v. TAI CHING

ANDREW NICHOLAS BARBER v. SECURITIES AND FUTURES COMMISSION