DAVID SUBOTIC AND OTHERS V. SECURITIES AND FUTURES COMMISSION

[2023] HKCFA 32 Court of Final Appeal 30 October 2023 • FACV4/2023 • 41 min read
5 cases cited (0 SG, 5 foreign) Cited by 1 case

Practice Areas

Companies (Winding Up and Miscellaneous Provisions) Ordinance Companies Ordinance Rules of the High Court Securities and Futures Ordinance

Judges (5)

Cheung Coram Fok Coram Lam Coram McLachlin Coram Ribeiro Coram

Counsel (6)

MinterEllison LLP Firm Securities and Futures Commission Firm Bernard Man Counsel Plaintiff Charles Sussex Counsel Defendant Edward Alder Counsel Defendant Sheena Wong Counsel Plaintiff

Parties (21)

360Hk Limited Defendant Boothbay Multi Strategy Fund Lp Defendant China Joint Funds Management Limited Defendant Das Capital Limited Defendant Eastmore Global, Ltd Defendant Eastmore Holdings, Ltd Defendant Eden Investments Ltd Defendant Mighty Edge Limited Defendant Securities and Futures Commission Plaintiff Coastal Management Llc Defendant Current Trading, Llc Defendant David Subotic Defendant Eastmore Management, Llc Defendant Ho Ming Hin Defendant Isidor Subotic Defendant Lam Wing Ki Defendant Lau Yik Kwan Defendant Sasha Szabo Defendant Sit Yi Ki Defendant Suen Man Simon Defendant Tam Cheuk Hang Defendant

Summary

David Subotic and others, former employees of a financial firm, appealed against the Securities and Futures Commission's market misconduct proceedings. The case raised questions about the proper approach to the SFC's enforcement powers and the rights of persons subject to regulatory investigation. The appeal addressed important questions of securities regulation.

Statutes Cited

Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32)
Companies Ordinance (Cap 622)
s 327
Rules of the High Court (Cap 4A)
Securities and Futures Ordinance (Cap 571)

Cases Cited (5)

UK (1)
[1992] Ch 72
HK (4)
(2013) 16 HKCFAR 324 [2014] 5 HKLRD 558 [2021] 3 HKLRD 777 [2023] 1 HKLRD 983

Cited By (1)

[2023] HKCFA 40
DAVID SUBOTIC AND OTHERS V. SECURITIES AND FUTURES COMMISSION

Judgment

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

Read on HKLII

Source: HKLII ([2023] HKCFA 32)