Then HKTDC Manager charged by ICAC sentenced for MIPO by divulging confidential tender information in $2.3m project to personal friend

A former HKTDC manager was sentenced for misconduct after admitting she leaked confidential tender details, including competitor proposals and evaluation criteria, to a friend’s company, helping it win a $2.3 million project. Why It MattersThis case highlights a serious breach of trust and integrity in public service, undermining the fairness [...]

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Exchange’s Disciplinary Action against Two Directors of Narnia (Hong Kong) Group Company Limited (Delisted, Previous Stock Code: 8607)

The Stock Exchange of Hong Kong censured two former executive directors of a delisted company, Mr. Dai Shunhua and Ms. Song Xiaoying, and declared them unsuitable for senior management positions. This was due to their failure to provide substantive responses to all of the Exchange’s investigative enquiries. Why It Matters [...]

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SFC bans Cheung Ngai Yi for life

A former Hang Seng Bank account manager, Cheung Ngai Yi, has been banned for life by the Securities and Futures Commission after being convicted of stealing over HK$1.5 million from a client. The District Court sentenced him to 30 months’ imprisonment for misappropriating the funds through 88 unauthorized ATM withdrawals [...]

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SFC bans Cheng Lai Ho for seven months

The Securities and Futures Commission (SFC) has prohibited Mr Cheng Lai Ho, a former relevant individual of Bank of Communications (BOCOM), from re-entering the financial industry for seven months. The disciplinary action follows an SFC investigation which found that between April 2017 and April 2022, Cheng failed to disclose multiple [...]

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SFC suspends Tang Wai Choi for seven months

The Securities and Futures Commission (SFC) has suspended the licence of Mr Tang Wai Choi, a former licensed representative of Shanxi Securities International Limited (SSIL), for seven months. The disciplinary action follows an SFC investigation which found that between July and December 2019, Tang improperly accessed a client’s securities account [...]

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SFC seeks court orders to disqualify former directors of China Longevity Group Company Limited

The Securities and Futures Commission (SFC) is seeking disqualification orders against three former executive directors of China Longevity Group Company Limited for their roles in financial misstatements and disclosure failures. The SFC’s investigation revealed the company materially overstated its cash and cash equivalents by approximately RMB198.9 million as of 31 [...]

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SFC seeks court orders to disqualify former directors of Century Energy International Holdings Limited

The Securities and Futures Commission (SFC) is pursuing disqualification orders against four former directors of Century Energy International Holdings Limited (formerly China Oil Gangran Energy Group Holdings Limited) following an investigation into the company’s significant financial losses due to a loss of control over four major operating subsidiaries. The former [...]

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SFC bans Citigroup Global Markets Asia Limited’s former responsible officer Richard Charles Heyes for five years

The Securities and Futures Commission (SFC) has banned Mr. Richard Charles Heyes, a former responsible officer and senior executive at Citigroup Global Markets Asia Limited (CGMAL), from re-entering the financial industry for five years due to his failure to prevent serious regulatory breaches and internal control failures related to the [...]

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Exchange’s Disciplinary Action against a Director of LET Group Holdings Limited (Delisted, Previous Stock Code: 1383) and Summit Ascent Holdings Limited (Delisted, Previous Stock Code: 102)

The Stock Exchange of Hong Kong Limited has imposed a Director Unsuitability Statement and a Censure against Mr. Lo Kai Bong, the executive director and chairman of LET Group Holdings Limited and Summit Ascent Holdings Limited. The Exchange has determined that Mr. Lo is unsuitable to serve as a director [...]

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SFC reprimands and fines Instinet Pacific Limited $8 million for failure to report cross trades to the Stock Exchange

The Securities and Futures Commission (SFC) has publicly reprimanded Instinet Pacific Limited and imposed an HK$8 million fine for failing to comply with regulatory requirements regarding the reporting of direct business transactions (cross trades) to The Stock Exchange of Hong Kong Limited (SEHK) between December 2012 and March 2018. Instinet’s [...]

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