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Court Of Appeal Dismisses SFC’s Appeal Against MMT Decision

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Court Of Appeal Dismisses SFC’s Appeal Against MMT Decision

The Court of Appeal has dismissed an appeal by the Securities and Futures Commission (SFC) against the Market Misconduct Tribunal’s (MMT) findings that two former executives of Asia Telemedia Limited (ATML) (now known as Reorient Group Limited), Mr Yiu Hoi Ying and Ms Marian Wong Nam, had not engaged in insider dealing (Notes 1 & 2).

The SFC is reviewing the decision.

The SFC has also instituted parallel proceedings in the Court of First Instance under section 213 of the Securities and Futures Ordinance against ATML’s former chairman, Mr Lu Ruifeng, for his alleged insider dealing in ATML shares (Note 3).


Notes:

  1. The MMT was chaired by The Honourable Mr Justice Michael Hartmann with two lay members, Mr Stephen Chan Sai Hung and Dr Ricky Chu Keung Wah.  The MMT’s decision is available on its website (www.mmt.gov.hk).
  2. A copy of the Court of Appeal judgment (Case No: CACV 154/2016) is available on the Judiciary’s website (www.judiciary.gov.hk).
  3. Please see the SFC’s press releases dated 2 May 20085 November 2008 and 6 December 201029 January 2014 and 26 Nov 2015.

Source: SFC 

By Pathay Singh on 05/04/17