Enforcement news

This sub-section covers enforcement actions taken and offers some insight on our approach to tackling market misconduct.


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Date Company/Name Action
16 Sep 2019 SFC commences Market Misconduct Tribunal proceedings over alleged insider dealing in Meadville Holdings Limited shares
12 Sep 2019 CHEUNG CHIU HUNG, JACKY SFC bans Jacky Cheung Chiu Hung for two years
10 Sep 2019 Hongkong and Shanghai Banking Corporation Limited, The SFC reprimands and fines HSBC $2.1 million for breaching telephone recording requirements
27 Aug 2019 Ching Lee Holdings Limited Court extends interim injunctions freezing assets of suspected manipulators of GEM stock
19 Aug 2019 LEE Kwok Tung, Samuel SFC bans Samuel Lee Kwok Tung for eight months
15 Aug 2019 Sincere Securities Limited SFC reprimands and fines Sincere Securities Limited $5 million for internal control failings
5 Aug 2019 TU Bing SFC bans Tu Bing for life
22 Jul 2019 SFC-ICAC operation leads to charging of ex-Convoy Global Executive Directors and broker’s general manager
18 Jul 2019 Court sets pre-trial review for unlicensed activities prosecution
15 Jul 2019 Lee's Securities Company Limited SFC reprimands and fines Lee’s Securities Company Limited $520,000 for internal control failings
15 Jul 2019 HUI Kwok Piu SFC suspends Hui Kwok Piu for illegal short selling
15 Jul 2019 SFC reprimands and fines Glory Sun Securities Limited $1.2 million and suspends its current and former responsible officers
12 Jul 2019 SONG Peng SFC bans Song Peng for 10 months
10 Jul 2019 SFC reprimands and fines Celestial Commodities Limited and Celestial Securities Limited $6.3 million for mishandling client money
3 Jul 2019 LEISSNER Tim SFC bans Goldman Sachs (Asia) L.L.C. former responsible officer Tim Leissner for life
26 Jun 2019 Hong Kong Exchanges and Clearing Limited SFC and ICAC search sponsor firms
25 Jun 2019 Market Misconduct Tribunal fines Health and Happiness and its chairman $3.2 million in total for late disclosure of inside information
25 Jun 2019 SFC issues restriction notices to 14 brokers to freeze client accounts linked to suspected market manipulation of Smartac Group China Holdings Limited
25 Jun 2019 SFC issues restriction notices to nine brokers to freeze client accounts linked to suspected market manipulation of China Ding Yi Feng shares
24 Jun 2019 FT Securities Limited SFAT affirms SFC decision to reprimand and fine FT Securities Limited $3.5 million

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Notes:

  1. In some news releases, the names of certain individuals have been masked because:
    1. the individuals have met certain criteria for this treatment as set out under the Rehabilitation of Offenders Ordinance;
    2. the individuals received only a public reprimand and the news release was published over 10 years ago; or
    3. the news release was a public statement published over 10 years ago.
  2. The  list only contains news releases of the SFC’s enforcement actions issued on or after 1 January 1997. 
  3. The SFC may still take into account  its enforcement actions taken before 1 January 1997 for licensing and disciplinary purposes.
  4. If you need more information about a currently licensed person, please look it up in the Public Register of Licensed Persons and Registered Persons