Secretary for Justice to visit democracy, promote HK as “dispute resolution” hub

Secretary for Justice to visit democracy, promote HK as “dispute resolution” hub https://ift.tt/eA8V8J Yes, really. We’re so good at resolving our own problems that we want to solve other people’s. Teresa Cheng will speak on “The Search for Order within Chaos in the Evolution of ISDS” – which presumably stands for “I’m Such a Disastrous […]

SFC fines UBS HK$400m for overcharging 5,000 wealth management clients HK$200m over 10 years

SFC fines UBS HK$400m for overcharging 5,000 wealth management clients HK$200m over 10 years https://ift.tt/eA8V8J Shocking dishonest behaviour in which they pocketed the difference between a limit order price and a better price obtained in the market for bonds and structured notes. UBS was also fined HK$375m in March for its duff IPO sponsorships. Source: […]

SFC fines UBS HK$400m for overcharging 5,000 wealth management clients HK$200m over 10 years

SFC fines UBS HK$400m for overcharging 5,000 wealth management clients HK$200m over 10 years https://ift.tt/eA8V8J Shocking dishonest behaviour in which they pocketed the difference between a limit order price and a better price obtained in the market for bonds and structured notes. UBS was also fined HK$375m in March for its duff IPO sponsorships. Source: […]

Court makes orders against ex-Chairman and Eds of Minth (0425)

Court makes orders against ex-Chairman and Eds of Minth (0425) https://ift.tt/eA8V8J For an undisclosed connected transaction in 2008 involving a BVI company and his nephew and niece, once again demonstrating how the Stock Exchange allows related parties to hide behind offshore companies whose ownership cannot be traced. Source: SFC | Source date: 7-Nov-2019 18:36 Sourcing […]

MSCI puts bubble stock Artgo (3313) into China index

MSCI puts bubble stock Artgo (3313) into China index https://ift.tt/eA8V8J Despite Webb-site’s bubble warning on 15-Sep-2019, the SFC hasn’t followed suit. The stock jumped 40% on Friday. Congratulations MSCI, you’ve just made it easier for active stock-pickers to outperform your mindless index by excluding ArtGo from their holdings – unless the SFC intervenes before the […]

SFC fines China Rise Securities Asset Management HK$6.3m for regulatory breaches and internal control failures

SFC fines China Rise Securities Asset Management HK$6.3m for regulatory breaches and internal control failures https://ift.tt/eA8V8J Source: SFC | Source date: 31-Oct-2019 17:00 Sourcing from David Webb. Further reading: https://ift.tt/34CI83O * * * * * https://ift.tt/2OsIfMt

SFC takes China Medical & Healthcare (0383) and 6 directors to MMT, alleges late disclosure of inside information

SFC takes China Medical & Healthcare (0383) and 6 directors to MMT, alleges late disclosure of inside information https://ift.tt/eA8V8J It took them nearly 6 months to reveal windfall gains on shares of a company which became Alibaba Pictures Group Ltd (1060). The SFC is pursuing the entire board at that time (2014), including 3 INEDs […]

SFC issues restriction notice to Hong Kong Wan Kiu Investment Co Ltd

SFC issues restriction notice to Hong Kong Wan Kiu Investment Co Ltd https://ift.tt/eA8V8J OK now let’s not make any childish jokes about the name. We’ll have to wait for the SFC’s investigation to come to a climax and hope that there is no manipulation involved. Source: SFC | Source date: 5-Nov-2019 16:20 Sourcing from David […]

Central govt plans to ‘improve’ CE election system

Central govt plans to ‘improve’ CE election system https://ift.tt/eA8V8J Good. Start by replacing corporate voting with one vote per job, then reallocate the Election Committee sub-sector seats proportionate to registered voters. Voila – a democratic committee! All doable in HK law, no need for NPCSC approval. Do the same for LegCo Functional Constituencies. Or by […]

Facilitating shareholder activism in Asia

Facilitating shareholder activism in Asia https://ift.tt/eA8V8J Webb-site founder David Webb presented at the PNB Corporate Summit in Kuala Lumpur yesterday. In the opening address, Prime Minister Mahathir Mohamad declared that “Government has no business to be in business”. That’s encouraging, if it means that Malaysia will sell off Government-Linked Companies in a wave of public […]

Drill & musketry Sergeant Au Chi Wai charged with bribery, MIPO and deception

Drill & musketry Sergeant Au Chi Wai charged with bribery, MIPO and deception https://ift.tt/eA8V8J He allegedly conned 30 police trainees out of HK$250k. Perhaps the most shocking thing is that they are still teaching musketry. Source: ICAC | Source date: 25-Oct-2019 23:59 Sourcing from David Webb. Further reading: https://ift.tt/2qNTB25 * * * * * https://ift.tt/2OsIfMt

Letter from Rocky Tuan Sung Chi, Vice-Chancellor of CUHK

Letter from Rocky Tuan Sung Chi, Vice-Chancellor of CUHK https://ift.tt/eA8V8J We note that Anthony Neoh, Chairman of the Independent Police Complaints Council, is also the Treasurer of the Council of CUHK. Source: Company web site | Source date: 18-Oct-2019 00:00 Sourcing from David Webb. Further reading: https://ift.tt/33V1JMm * * * * * https://ift.tt/2OsIfMt

Junior Police Officers’ Association v EAC

Junior Police Officers’ Association v EAC https://ift.tt/eA8V8J An interim injunction preventing public inspection of names linked to their addresses in the Electoral Register is granted. Validly nominated electoral candidates will still be entitled to the details on their electors. Source: HK Court of Appeal | Source date: 22-Oct-2019 20:20 Sourcing from David Webb. Further reading: […]