SECURITIES AND FUTURES COMMISSION V. YIU HOI YING CHARLES AND ANOTHER (and 1 other)

[2021] HKCFA 41 Court of Final Appeal 12 November 2021 • FAMV38/2017; FACV5/2018 • 28 min read
10 cases cited (0 SG, 10 foreign)

Practice Areas

Securities and Futures Ordinance

Judges (1)

KW Wong Coram

Counsel (4)

Securities and Futures Commission Firm Sit, Fung, Kwong & Shum Firm Norman Nip Counsel Appellant Samuel Wong Counsel Respondent

Parties (4)

Market Misconduct Tribunal Respondent Securities and Futures Commission Applicant Wong Nam Marian Respondent Yiu Hoi Ying Charles Respondent

Summary

The Securities and Futures Commission appealed against decisions of the Market Misconduct Tribunal and the Court of Appeal regarding insider dealing allegations against Yiu Hoi Ying Charles and Wong Nam Marian in shares of Asia Telemedia Limited. The key issue was the proper approach to determining whether information was 'specific' for the purposes of insider dealing provisions. The Court addressed the standard of proof and the meaning of 'specific information'.

Statutes Cited

Securities and Futures Ordinance (Cap 571)
s 271(3)

Cases Cited (10)

UK (6)
[1901] 2 Ch 763 [1908] 2 Ch 127 [2003] EWHC 9037 [2006] EWHC 443 [2014] EWHC 4117 [2020] EWHC 235
HK (4)
(2018) 21 HKCFAR 475 [2018] HKCFA 44 [2018] HKCFI 463 [2020] HKCFI 2978

Judgment

Read the full judgment on the official Hong Kong Courts portal.

Read on HKLII

Source: HKLII ([2021] HKCFA 41)