Lake Wang’s Post

[𝗖𝗼𝗻𝘁𝗲𝗻𝘁 𝗨𝗽𝗱𝗮𝘁𝗲] We are excited to share new updates from our 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝗶𝗲𝘀 𝗟𝗮𝘄: 𝗛𝗼𝗻𝗴 𝗞𝗼𝗻𝗴 𝗦𝗔𝗥 𝗮𝗻𝗱 𝗣𝗲𝗼𝗽𝗹𝗲'𝘀 𝗥𝗲𝗽𝘂𝗯𝗹𝗶𝗰 𝗼𝗳 𝗖𝗵𝗶𝗻𝗮 series. Michael Szeto, Head of Employment at ONC Lawyers 柯伍陳律師事務所 is delivering the essential securities law updates in Issue 71. 𝗧𝗵𝗲 𝗶𝘀𝘀𝘂𝗲 𝗰𝗼𝘃𝗲𝗿𝘀: 1. Case note on New Sparkle Roll International Group Ltd & Guo Ying v Sze Ching Lau & Shenwan Hongyuan Capital (HK) Limited [2024] HKCFI 419 2. New Practice Note 26 on treasury shares 3. Regulations on virtual asset trading platforms (VATPs) 4. Anticipated reduced restrictions on recognized Mainland China funds 5. Confirmation of SFC's power under section 213 of the SFO 6. Introduction of the new Capital Investment Entrant Scheme (New CIES) Contact us for the collection of Securities Law: Hong Kong SAR and People's Republic of China: https://buff.ly/45vWTpU

Our Partner Mr Michael Szeto has contributed to updates of "Securities Law: Hong Kong SAR and People's Republic of China" (issue 71) published by LexisNexis Hong Kong & Taiwan in September 2024. Contents include: 1. Case note on New Sparkle Roll International Group Ltd & Guo Ying v Sze Ching Lau & Shenwan Hongyuan Capital (HK) Limited [2024] HKCFI 419 2. New Practice Note 26 on treasury shares 3. Regulations on virtual asset trading platforms (VATPs) 4. Anticipated reduced restrictions on recognized Mainland China funds 5. Confirmation of SFC's power under section 213 of the SFO 6. Introduction of the new Capital Investment Entrant Scheme (New CIES) 本所合夥人司徒肇基律師參與更新了由 LexisNexis 於 2024 年 9 月出版的《Securities Law: Hong Kong SAR and People's Republic of China》（第 71 期），內容包括： 1. New Sparkle Roll International Group Ltd & Guo Ying v Sze Ching Lau & Shenwan Hongyuan Capital (HK) Limited [2024] HKCFI 419 的案例摘要 2. 有關庫存股份的新《應用指引26》 3. 有關虛擬資產交易平台的規例 4. 認可中國內地基金的限制預期放寬 5. 確認證監會在《證券及期貨條例》第 213 條下的權力 6. 新的資本投資者入境計劃簡介 For further details, please click here 如欲了解詳情，請按此處： https://buff.ly/45vWTpU

Monetary Authority of Singapore (MAS) issued a 5-year ban (Prohibition Order) on ex-RHB Securities representative Chong Yew Mun Alan for false trading in shares of Singapore Exchange (SGX) Catalist-listed Koyo International Limited between 2015 to 2016 using 15 trading accounts in different online trading brokerages.  Chong Yew Mun Alan was sentenced to 11 weeks jail in 2023.  Read - https://lnkd.in/g2wvEpcC follow Caproasia | Driving the future of Asia The Monetary Authority of Singapore (MAS) has issued a 5-year ban (Prohibition Order) on ex-RHB Securities representative Chong Yew Mun Alan for false trading in shares of Singapore Exchange (SGX) Catalist-listed Koyo International Limited between 2015 to 2016 using 15 trading accounts in different online trading brokerages.  Chong Yew Mun Alan was sentenced to 11 weeks jail in 2023.  In 2023, a Singapore court sentenced 8 individuals to jail for share trading manipulation (market rigging) by controlling 53 accounts via 15 individuals to increase Singapore Catalist-listed company Koyo share price to attract buyer to acquire company via reverse takeover, with the share price crashing in 2016 and account holders losing S$3.28 million ($2.4 million) including S$1.05 million ($790,000) of losses suffered by brokerages & remisiers.  Singapore MAS (3/9/24): “The Monetary Authority of Singapore (MAS) today issued a 5-year prohibition order (PO) against Mr Chong Yew Mun Alan, a former representative of RHB Securities (Singapore) Pte. Ltd. The PO was issued following Mr Chong’s conviction in the State Courts for offences under the Securities and Futures Act (SFA) relating to false trading in the shares of Catalist-listed Koyo International Limited (Koyo). Mr Chong’s offences have given MAS reason to believe that he will not perform financial advisory and capital markets services honestly.  Between 1 December 2015 and 15 January 2016, Mr Chong had participated and assisted Mr Lin Eng Jue in a scheme to create a false appearance regarding the price of Koyo shares by trading at progressively higher prices. The aim of the scheme was to attract a buyer to acquire the company via a reverse takeover. 1) On Mr Lin’s instruction, Mr Chong carried out trades of Koyo shares in 15 trading accounts using the account holders’ login credentials to trade on various brokerage firms’ online trading platforms. 2) The brokerage firms did not give consent for the trades to be placed on the instructions of anyone other than the account-holders.  For his actions, Mr Chong was convicted on 9 May 2023 for abetting Mr Lin to commit false trading in Koyo shares, and for deceiving several brokerage firms through the unauthorised use of trading accounts. He was sentenced to 11 weeks’ imprisonment on 13 July 2023 ...

Monetary Authority of Singapore (MAS) issued a 5-year ban (Prohibition Order) on ex-RHB Securities representative Chong Yew Mun Alan for false trading in shares of Singapore Exchange (SGX) Catalist-listed Koyo International Limited between 2015 to 2016 using 15 trading accounts in different online trading brokerages.  Chong Yew Mun Alan was sentenced to 11 weeks jail in 2023.  Read - https://lnkd.in/gpuxr3dk follow Caproasia | Driving the future of Asia The Monetary Authority of Singapore (MAS) has issued a 5-year ban (Prohibition Order) on ex-RHB Securities representative Chong Yew Mun Alan for false trading in shares of Singapore Exchange (SGX) Catalist-listed Koyo International Limited between 2015 to 2016 using 15 trading accounts in different online trading brokerages.  Chong Yew Mun Alan was sentenced to 11 weeks jail in 2023.  In 2023, a Singapore court sentenced 8 individuals to jail for share trading manipulation (market rigging) by controlling 53 accounts via 15 individuals to increase Singapore Catalist-listed company Koyo share price to attract buyer to acquire company via reverse takeover, with the share price crashing in 2016 and account holders losing S$3.28 million ($2.4 million) including S$1.05 million ($790,000) of losses suffered by brokerages & remisiers.  Singapore MAS (3/9/24): “The Monetary Authority of Singapore (MAS) today issued a 5-year prohibition order (PO) against Mr Chong Yew Mun Alan, a former representative of RHB Securities (Singapore) Pte. Ltd. The PO was issued following Mr Chong’s conviction in the State Courts for offences under the Securities and Futures Act (SFA) relating to false trading in the shares of Catalist-listed Koyo International Limited (Koyo). Mr Chong’s offences have given MAS reason to believe that he will not perform financial advisory and capital markets services honestly.  Between 1 December 2015 and 15 January 2016, Mr Chong had participated and assisted Mr Lin Eng Jue in a scheme to create a false appearance regarding the price of Koyo shares by trading at progressively higher prices. The aim of the scheme was to attract a buyer to acquire the company via a reverse takeover. 1) On Mr Lin’s instruction, Mr Chong carried out trades of Koyo shares in 15 trading accounts using the account holders’ login credentials to trade on various brokerage firms’ online trading platforms. 2) The brokerage firms did not give consent for the trades to be placed on the instructions of anyone other than the account-holders.  For his actions, Mr Chong was convicted on 9 May 2023 for abetting Mr Lin to commit false trading in Koyo shares, and for deceiving several brokerage firms through the unauthorised use of trading accounts. He was sentenced to 11 weeks’ imprisonment on 13 July 2023 ...

【GCC News】 The Securities and Futures Commission (SFC) has commenced criminal proceedings against Segantii Capital Management Limited (Segantii), its director and chief investment officer Mr. Simon Sadler, and former trader Mr. Daniel La Rocca for the offence of insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Limited prior to a block trade in June 2017. Key Take-away: 1. All licensed or registered persons should comply with the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (Code of Conduct). According to paragraph 9.3 of the Code of Conduct, a licensed or registered person should have procedures in place to ensure that its employees do not deal (for the benefit of the licensed or registered person, the employee or a client) in securities or futures contracts where the employee concerned effects the dealing in order to “front-run” pending transactions for or with clients, or on the basis of other non-public information which would be expected to materially affect prices of those securities or futures contracts and which is to be released to the market. 2. The main pieces of legislation in Hong Kong that are concerned with insider dealing are Sections 270 and 291 of the Securities and Futures Ordinance (SFO). It is very important that FIs and their officers and staff fully understand their respective responsibilities under the legislation. Please see the SFC’s statement here. https://lnkd.in/e5xfUryE #SFC #InsiderDealing #SegantiiCapitalManagement #HongKongFinance #MarketIntegrity #Compliance #CodeofConduct #SecuritiesandFuturesOrdinance

Jingtian & Gongcheng Partners Stella Yeung and Stephen Luo shared views on the new regime in Introduction of CSRC regime for Hong Kong IPOs. Head over to our blog to read the full interview and gain a deeper understanding of the CSRC regime and its impact on Hong Kong IPOs. Like, comment, and share this post to spread the word and let us know your thoughts on the new regime. #JingtianandGongchengLLP #CSRC

Listing Rules Foundation Course – Session Three: Chapter 14A - Connected Transactions Directors, senior management, and governance professionals, don't miss out on this essential session to ensure compliance and stay informed on the topic of ‘Chapter 14A - Connected Transactions’ of Hong Kong Exchanges and Clearing Limited (HKEX) Listing Rules. It is a valuable opportunity to enhance your understanding and stay up-to-date with the regulatory requirements. Speakers from HKEX, Stephenie Fung, Ashley Chan will explain with practical case studies covering topics on: • Who are connected persons • What are connected transactions • Specific requirements for continuing connected transactions • Measures for identifying and monitoring the transactions • Applicable compliance requirements • Aggregation and alternative size tests Venus Lo from HKEX and legal and governance professional practitioners Tom CHAU, Cindy Kwong and Frank Yuen will share their insights in a panel discussion. Register now:  Physical: https://lnkd.in/g4JJWyU5  Online: https://lnkd.in/gmzxBNbd #HongKongListing #HKCGI #ComplianceTraining #CorporateGovernance #ListingRules

📈How did the year start at the Bucharest Stock Exchange? What's next in the near future for the capital market in Romania? 🎤Daniela Maior Serban, President of ARIR, participated in the "ZF Deschiderea de Astăzi" show, where she discussed these aspects, along with the upcoming legislative changes that will affect the Romanian capital market, welcoming the ASF's initiative to amend Law No. 24/2017. and good practices for companies wishing to list. 📱For more details, we invite you to access the link in the comments. #ARIR5 #InvestedInSuccess

On the occasion of The Network Forum, in vibrant Warsaw, I shared some of the ECSDA thoughts with participants on how CSDs provide scalability for markets: ✔ through consolidation projects, ✔ by establishing CSD Links and passporting (allowing issuance of non-domestic issuers by supporting their law), ✔ working on standardisation and alignment of practices. There are however limits to what CSDs can achieve in a fragmented legal, tax and investor protection environment. As “notaries of financial markets” in the Union, CSDs are asked to apply coherently incoherent rules 🤔 - that contradiction should not be solely for the CSDs to solve. It is a question for all of us in the Union and first, to the authorities: how serious we are about the #CMU? If so, then tackling legal and tax fragmentation to solve the root cause is essential.  Still, we also need to remember that it’s not because of a notary (as efficient and innovative as it can be 😉), that one chooses where to buy an apartment. 🤣  European Central Securities Depositories Association (ECSDA) #PostTrade #CSD The Network Forum

The Private Intermittent Securities and Capital Exchange System, or PISCES, was unveiled by the UK government this month.     PISCES will enable private companies to access the funding and liquidity they need while avoiding the complexity and expense of going public.    Our CEO Myles Milston, spoke to Markets Media about the development which will shortly progress to public consultation.    Read the full article here: https://lnkd.in/erWzzWHg    #Pisces #SpringStatement #UK #Government #PrivateMarkets