The Securities and Futures Commission (SFC) has commenced legal proceedings in the Court of First Instance against Mr Wong Ho Yin, a former director of China Automotive Interior Decoration Holdings Limited (China Automotive) and its subsidiary Giant Faith Holdings Limited (Giant Faith), and Ms So Lung Ying, the former general manager of Giant Faith, for alleged breaches of fiduciary duties involving purported fictitious transactions and wrongful payments (Notes 1 to 3). The S

The Securities and Futures Commission (SFC) has commenced legal proceedings in the Court of First Instance against Mr Wong Ho Yin, a former director of China Automotive Interior Decoration Holdings Limited (China Automotive) and its subsidiary Giant Faith Holdings Limited (Giant Faith), and Ms So Lung Ying, the former general manager of Giant Faith, for alleged breaches of fiduciary duties involving purported fictitious transactions and wrongful payments (Notes 1 to 3). The S

The Securities and Futures Commission (SFC) has reached an agreement with PricewaterhouseCoopers Hong Kong (PwC HK) under which PwC HK has agreed to set aside HK$1 billion to compensate eligible independent minority shareholders of China Evergrande Group (China Evergrande) (Note 1). PwC HK audited China Evergrande’s financial statements for the fiscal years ended 31 December 2019 and 31 December 2020 (FY2019 and FY2020 respectively). The SFC’s investigation, which focused on

The Securities and Futures Commission (SFC) today launched a new regulatory framework to pilot the secondary trading of tokenised SFC-authorised investment products (tokenised products) in Hong Kong, aiming to boost trading activity in the city’s expanding digital asset ecosystem over time. Set out in a circular, the SFC’s new guidance aims primarily to facilitate secondary trading of tokenised SFC-authorised open-ended funds on SFC-licensed virtual asset trading platforms (V

The Securities and Futures Commission (SFC) has reprimanded and fined Impression Investment Limited (Impression) $2 million for failing to diligently supervise its staff and maintain effective internal controls over staff trading activities (Note 1). The SFC has also prohibited Mr Liu Shan, a former director, responsible officer (RO) and manager-in-charge of Impression, from re-entering the industry for eight months from 2 April 2026 to 1 December 2026 (Notes 2 to 3). The SFC

The Securities and Futures Commission (SFC) has prohibited Mr Lui Pak Tong (also known as Patrick Lui), a former licensed representative of Thunder Capital Limited (Thunder), from re-entering the industry for life. The SFC also fined Lui $17.43 million, equivalent to the profit he gained from his misconduct (Notes 1 and 2). The SFC’s investigation found that, between September 2017 and June 2020, Lui, in his official capacity as Thunder’s investment analyst, caused a segrega

The Court of First Instance has granted an interim injunction order against four suspected manipulators of the shares of KNT Holdings Limited (KNT) in legal proceedings brought by the Securities and Futures Commission (SFC) under section 213 of the Securities and Futures Ordinance (SFO) (Note 1). Pursuant to the Court order, the four suspects, who allegedly manipulated KNT shares between 28 February 2019 and 15 May 2019, are prohibited from disposing of, dealing with, diminis

The Eastern Magistrates’ Courts today granted an application by the Department of Justice to transfer a securities fraud case brought by the Securities and Futures Commission (SFC) to the District Court for criminal proceedings. This marks the first time in which a criminal prosecution for securities fraud involving illegal short selling under section 300 of the Securities and Futures Ordinance (SFO) will be held in the District Court. The first hearing in the District Court