Yunfeng Financial Group Limited 雲鋒金融集團有限公司
MMT sanctions Charles Yiu Hoi Ying & Marian Wong Nam, ex-Asia Telemedia Ltd (0376)
| MMT report
SFC, 7-Apr-2021
For insider dealing in 2007. After the MMT wrongly cleared them in 2015, the SFC took the case all the way to the Court of Final Appeal and won.
SFC, 7-Apr-2021
For insider dealing in 2007. After the MMT wrongly cleared them in 2015, the SFC took the case all the way to the Court of Final Appeal and won.
CFA allows SFC's appeal against MMT decision on insider dealing in Asia Telemedia Ltd
SFC, 12-Oct-2018
By a 4:1 majority, the Court of Final Appeal overturns the Court of Appeal's ruling which upheld the MMT decision. That's a victory for common sense - the defence that the insiders were selling to take advantage of a bubble holds no water when, if the company's financial difficulties had been known, its stock price would have been lower. By that test, they were "using" the Inside Information.
SFC, 12-Oct-2018
By a 4:1 majority, the Court of Final Appeal overturns the Court of Appeal's ruling which upheld the MMT decision. That's a victory for common sense - the defence that the insiders were selling to take advantage of a bubble holds no water when, if the company's financial difficulties had been known, its stock price would have been lower. By that test, they were "using" the Inside Information.
SFC v Charles Yiu Hoi Ying & others
HK Court of Final Appeal, 6-Feb-2018
The SFC is granted leave to appeal to the CFA.
HK Court of Final Appeal, 6-Feb-2018
The SFC is granted leave to appeal to the CFA.
Court of Appeal dismisses SFC's application to appeal to CFA in Asia Telemedia (0376) insider dealing case
SFC, 24-Aug-2017
SFC, 24-Aug-2017
SFC v C,D,E,F,G & China United Telecom Ltd
HK Court of First Instance, 4-May-2017
C = Lu Ruifeng; D = Tin Yin Kwan, wife of Yao Wen Pei; E=Clear Excel Ltd, F=Kayden Ltd, G=Yao Wen Pei, father of Charles Yiu Hoi Ying, then Finance Director of Asia Telemedia Ltd (0376). China United Telecom Ltd (BVI) fails in its application to lift an injunction freezing funds.
HK Court of First Instance, 4-May-2017
C = Lu Ruifeng; D = Tin Yin Kwan, wife of Yao Wen Pei; E=Clear Excel Ltd, F=Kayden Ltd, G=Yao Wen Pei, father of Charles Yiu Hoi Ying, then Finance Director of Asia Telemedia Ltd (0376). China United Telecom Ltd (BVI) fails in its application to lift an injunction freezing funds.
Cout of Appeal dismisses SFC's appeal against MMT decision
SFC, 28-Apr-2017
It's the SFC's 2nd loss in a month, following the CITIC case at the MMT. The MMT cases involved the same judge. The appeal centres on the meaning of "using" inside information, and whether withholding of the information was a "use" which had contributed to the artificially high price. In our view, that misses the point. It should have been enough to show, as the SFC did, that the respondents knew that the market price would likely be materially lower if the information in their possession had been disclosed. On a common sense analysis, that should constitute "using" the information when dealing. Let's hope the SFC takes this point of law to the CFA.
SFC, 28-Apr-2017
It's the SFC's 2nd loss in a month, following the CITIC case at the MMT. The MMT cases involved the same judge. The appeal centres on the meaning of "using" inside information, and whether withholding of the information was a "use" which had contributed to the artificially high price. In our view, that misses the point. It should have been enough to show, as the SFC did, that the respondents knew that the market price would likely be materially lower if the information in their possession had been disclosed. On a common sense analysis, that should constitute "using" the information when dealing. Let's hope the SFC takes this point of law to the CFA.
MMT clears 3 in Asia TeleMedia case
SFC, 26-Nov-2015
The firm is now Reorient Group Ltd (0376). The MMT makes no finding on Lu Ruifeng, who was hospitalised outside the jurisdiction. It finds that 2 of the defendants knew negative price-sensitive information but that this was not a factor when they sold their shares during the 2007 market bubble. Comment: if the same events were to happen today, then the board would have a statutory obligation to disclose the inside information.
SFC, 26-Nov-2015
The firm is now Reorient Group Ltd (0376). The MMT makes no finding on Lu Ruifeng, who was hospitalised outside the jurisdiction. It finds that 2 of the defendants knew negative price-sensitive information but that this was not a factor when they sold their shares during the 2007 market bubble. Comment: if the same events were to happen today, then the board would have a statutory obligation to disclose the inside information.
Kuangchi the stratospheric stock
Our latest New Year bubble worth popping is Kuangchi (0439), HK's top-performing stock of 2014, valued at HK$32.03bn (US$4.13bn) or 16.1x NTAV. (2-Jan-2015)
Our latest New Year bubble worth popping is Kuangchi (0439), HK's top-performing stock of 2014, valued at HK$32.03bn (US$4.13bn) or 16.1x NTAV. (2-Jan-2015)
Concentration warning in Reorient (0376)
SFC, 27-May-2013
This follows a request filed by Webb-site with the SFC on 18-Apr-2013.
SFC, 27-May-2013
This follows a request filed by Webb-site with the SFC on 18-Apr-2013.
"C", "E" and "F" v SFC
HK Court of Final Appeal, 11-Dec-2009
"C"=Lu Ruifeng, "E"=Clear Excel Ltd, "F"=Kayden Ltd
HK Court of Final Appeal, 11-Dec-2009
"C"=Lu Ruifeng, "E"=Clear Excel Ltd, "F"=Kayden Ltd
SFC v "C","D","E" and "F"
HK Court of Appeal, 17-Jul-2009
"C"=Lu Ruifeng, "D"=Tin Yin Kwan, "E"=Clear Excel Ltd, "F"=Kayden Ltd
HK Court of Appeal, 17-Jul-2009
"C"=Lu Ruifeng, "D"=Tin Yin Kwan, "E"=Clear Excel Ltd, "F"=Kayden Ltd
Court of Appeal confirms SFC's power to freeze assets in suspected insider dealing cases
SFC, 16-Jul-2009
SFC, 16-Jul-2009
SFC v "C","D","E" and "F"
HK Court of Appeal, 22-May-2009
"C"=Lu Ruifeng, "D"=Tin Yin Kwan, "E"=Clear Excel Ltd, "F"=Kayden Ltd
HK Court of Appeal, 22-May-2009
"C"=Lu Ruifeng, "D"=Tin Yin Kwan, "E"=Clear Excel Ltd, "F"=Kayden Ltd
SFC appeals against High Court decision to discharge injunction in insider dealing investigation
SFC, 5-Nov-2008
"C"=Lu Ruifeng
SFC, 5-Nov-2008
"C"=Lu Ruifeng
SFC v "C","D","E" and "F"
HK Court of First Instance, 22-Oct-2008
"C"=Lu Ruifeng, "D"=Tin Yin Kwan, "E"=Clear Excel Ltd, "F"=Kayden Ltd
HK Court of First Instance, 22-Oct-2008
"C"=Lu Ruifeng, "D"=Tin Yin Kwan, "E"=Clear Excel Ltd, "F"=Kayden Ltd
SFC obtains worldwide injunction in insider dealing investigation
SFC, 2-May-2008
"C"=Lu Ruifeng, "D"=Tin Yin Kwan
SFC, 2-May-2008
"C"=Lu Ruifeng, "D"=Tin Yin Kwan
Irene So Wai Yin surrenders licence to SFC for 5 years for serious conflict of interest
SFC, 1-Mar-2005
SFC, 1-Mar-2005
Dismissal of appeal of Danny Chan Tak Tim and Jim Wong Tin Yue
HK Takeovers Appeal Committee, 25-Mar-1999
HK Takeovers Appeal Committee, 25-Mar-1999
SFC reprimands Mansion House Securities (FE) Ltd and revokes registrations of Mr Donald Lai Nung Chi
SFC, 17-Mar-1999
SFC, 17-Mar-1999
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy