market misconduct

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The first-ever SFO offence to be tried by a jury in the CFI emphasises the SFC’s commitment to prosecuting market misconduct through various enforcement powers.

By Dominic Geiser, Truman Mak, Evangeline Tsui, and Charlotte Wong

The Hong Kong Court of First Instance (CFI) has convicted three individuals of conspiracy to carry out false trading in the shares of a listed company, Ching Lee Holdings Limited (CLHL). This is the first time that an offence under the Securities and Futures Ordinance (SFO) has been tried by a jury in the CFI.

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The SFC exercises its powers to order the suspension of trading in shares in a listed company to protect investors’ interests.

By Dominic Geiser, Truman Mak, Evangeline Tsui, and Charlotte Wong

On 15 April 2024, The Stock Exchange of Hong Kong Limited (SEHK) suspended trading in the shares of Tianyun International Holdings Limited (Company) pursuant to directions from the Securities and Futures Commission of Hong Kong (SFC). In ordering the suspension, the SFC exercised its powers under section 8(1) of the Securities and Futures (Stock Market Listing) Rules (SMLR), which empowers the SFC to make such directions to maintain an orderly and fair market and protect the investing public’s interests.