News
Mr Wong Ming Chung convicted for paid investment advice on Telegram chat group without licence
SFC, 20-Jun-2024
Mr Wong also works for an unnamed broker, which Webb-site data indicate is Tse's Securities Ltd, since 2010, but he wasn't operating the Telegram group on their behalf. He is fined HK$10k after pleading guilty. We don't know how much he made from the group.
SFC, 20-Jun-2024
Mr Wong also works for an unnamed broker, which Webb-site data indicate is Tse's Securities Ltd, since 2010, but he wasn't operating the Telegram group on their behalf. He is fined HK$10k after pleading guilty. We don't know how much he made from the group.
SFC suspends Shum Wai Nap, ex-PICC (1339), for 7 months for failures in managing a private fund
| Statement of Disciplinary Action
SFC, 20-Jun-2024
As Webb-site noted when PICC was fined on 5-Feb-2024, the manager known only as "S" must have been Shum Wai Nap. In 2020 he moved from PICC to Tianda Asset Management Ltd, but ceased to be licensed there on 24-Apr-2024.
SFC, 20-Jun-2024
As Webb-site noted when PICC was fined on 5-Feb-2024, the manager known only as "S" must have been Shum Wai Nap. In 2020 he moved from PICC to Tianda Asset Management Ltd, but ceased to be licensed there on 24-Apr-2024.
Concentration warning in Changjiu (6959)
SFC, 19-Jun-2024
The top 11 holders have 98.31% of the stock.
SFC, 19-Jun-2024
The top 11 holders have 98.31% of the stock.
Sanction of 4 ex-directors of Enviro Energy (1102)
SEHK, 17-Jun-2024
Including undisclosed connected transactions, being loans and guarantees which benefitted the then-Chairman and the CEO, and an undisclosed criminal prosecution in Shenzhen of the then-Chairman.
SEHK, 17-Jun-2024
Including undisclosed connected transactions, being loans and guarantees which benefitted the then-Chairman and the CEO, and an undisclosed criminal prosecution in Shenzhen of the then-Chairman.
SFC bans Ha Po Kwan, ex-Primas Asset Management Ltd, for 12 months
| Statement of Disciplinary Action
SFC, 17-Jun-2024
For doctoring product sheets for Credit Suisse accumulator contracts (yes, those are still a thing).
SFC, 17-Jun-2024
For doctoring product sheets for Credit Suisse accumulator contracts (yes, those are still a thing).
Insider dealing case against Segantii Capital Management and its chief investment officer transferred to District Court
SFC, 12-Jun-2024
Simon Sadler and Daniel La Rocca could now face up to 7 years in jail if found guilty, although a much lower sentence would be in line with precedent. This time, the SFC names the stock - something that journalists had to find out by trekking to the High Court Registry for a hard copy of the summons, as in this FinTech hub, the SFC's filings and court filings in general are still offline.
SFC, 12-Jun-2024
Simon Sadler and Daniel La Rocca could now face up to 7 years in jail if found guilty, although a much lower sentence would be in line with precedent. This time, the SFC names the stock - something that journalists had to find out by trekking to the High Court Registry for a hard copy of the summons, as in this FinTech hub, the SFC's filings and court filings in general are still offline.
Censure of China Haisheng Juice (ex-0359) and 5 directors
SEHK, 6-Jun-2024
For completing a major disposal without obtaining shareholders' approval.
SEHK, 6-Jun-2024
For completing a major disposal without obtaining shareholders' approval.
SFC cooperates with BCSC in obtaining preservation orders against Anita Maria Leung Fung Yee in British Columbia, Canada
SFC, 5-Jun-2024
The SFC alleges that she and late husband/ex-legislator Philip Wong Yu Hong used BVI companies and nominee shareholders to sell overvalued TV series licence rights to SMI Culture & Travel (ex-2366).
SFC, 5-Jun-2024
The SFC alleges that she and late husband/ex-legislator Philip Wong Yu Hong used BVI companies and nominee shareholders to sell overvalued TV series licence rights to SMI Culture & Travel (ex-2366).
PECS Register monthly update
HK Government, 31-May-2024
What have retired senior HK civil servants been getting up to this month?
HK Government, 31-May-2024
What have retired senior HK civil servants been getting up to this month?
HKSAR v Gordon Ng Ching Hang & 15 others
HK Court of First Instance, 30-May-2024
The verdict of the 3-judge panel on 16 of the "HK 47" who pleaded not guilty to breaching the NSL.
HK Court of First Instance, 30-May-2024
The verdict of the 3-judge panel on 16 of the "HK 47" who pleaded not guilty to breaching the NSL.
Market manipulators convicted in landmark High Court jury trial
SFC, 29-May-2024
Yes, HK still does jury trials, just not on National Security charges. However, 2 of the alleged conspirators have left HK, and we're guessing that they are beyond the reach of HK extradition treaties, which many countries suspended after the National Security Law was promulgated to HK.
SFC, 29-May-2024
Yes, HK still does jury trials, just not on National Security charges. However, 2 of the alleged conspirators have left HK, and we're guessing that they are beyond the reach of HK extradition treaties, which many countries suspended after the National Security Law was promulgated to HK.
William Lam Kin Choi fined HK$300k, banned for 2 years
Accounting & Financial Reporting Council, 28-May-2024
Not his first rodeo - he was banned by the predecessor HKICPA for 12 months in 2018.
Accounting & Financial Reporting Council, 28-May-2024
Not his first rodeo - he was banned by the predecessor HKICPA for 12 months in 2018.
SFC suspends Wong Ka Ching, ex-China On Securities Ltd, for 4 years
| Statement of Disciplinary Action
SFC, 28-May-2024
And we'd all like to know who "Mr X" is.
SFC, 28-May-2024
And we'd all like to know who "Mr X" is.
SFC bans Cheung Wing Hung for 18 months
SFC, 27-May-2024
Following his conviction and HK$6k fine for unlicensed investment services.
SFC, 27-May-2024
Following his conviction and HK$6k fine for unlicensed investment services.
Pre-trial review fixed for false trading in shares of China All Access (ex-0633)
| Webb-site Total Return chart
SFC, 23-May-2024
Ms Wong Yuk Lan pleads not guilty to manipulating the stock between 29-31-Dec-2014. Looking at the past stock data in the Webb-site Database, we cannot see what all the fuss is about. As we've often said, nobody should expect the market to tell them what a stock is worth and which way the price will move.
SFC, 23-May-2024
Ms Wong Yuk Lan pleads not guilty to manipulating the stock between 29-31-Dec-2014. Looking at the past stock data in the Webb-site Database, we cannot see what all the fuss is about. As we've often said, nobody should expect the market to tell them what a stock is worth and which way the price will move.
Help maintain the Webb-site Database
Webb-site.com, 19-May-2024
We are commencing the transition of the Webb-site Database to a crowd-sourced model. Whether it survives our Founder's doom depends on whether you, the users, are willing to volunteer your time, in a "Webbipedia" crowd-sourcing of corporate data. So please get involved, and you may get a free lunch at the end of the year.
Webb-site.com, 19-May-2024
We are commencing the transition of the Webb-site Database to a crowd-sourced model. Whether it survives our Founder's doom depends on whether you, the users, are willing to volunteer your time, in a "Webbipedia" crowd-sourcing of corporate data. So please get involved, and you may get a free lunch at the end of the year.
Yip Chi Wing (ex-KGI Asia Ltd) and Tsoi Chiu Kwan (ex-South China Securities Ltd) jailed for 3 months for false trading
SFC, 17-May-2024
In shares of Times Universal (2310), then known as Forebase International Holdings Ltd, in 2015-2016.
SFC, 17-May-2024
In shares of Times Universal (2310), then known as Forebase International Holdings Ltd, in 2015-2016.
Sanction of Link (8237) and 2 ex-Executive Directors
SEHK, 16-May-2024
Ngan Iek and Siew Pek To, who are brothers-in-law, used most of a bond issue proceeds to repay loans from Ngan rather than the stated purpose of redeeming old bonds, which then defaulted.
SEHK, 16-May-2024
Ngan Iek and Siew Pek To, who are brothers-in-law, used most of a bond issue proceeds to repay loans from Ngan rather than the stated purpose of redeeming old bonds, which then defaulted.
3 people charged with assisting HK intelligence service and foreign interference under the National Security Act
UK Metropolitan Police, 13-May-2024
Yes, that's the UK NSA, not the PRC NSA imposed on HK. Bill Yuen Chung Biu is an ex-HK Police officer now working as "Office Manager" in the HK London Trade Office. Public data show that he joined the Police on 21-Aug-1978 aged 18, and progressed to Chief Inspector on 15-Nov-1990 and Superintendent on 3-Aug-1998. The other 2 defendants are UK company directors in the Webb-site Database.
UK Metropolitan Police, 13-May-2024
Yes, that's the UK NSA, not the PRC NSA imposed on HK. Bill Yuen Chung Biu is an ex-HK Police officer now working as "Office Manager" in the HK London Trade Office. Public data show that he joined the Police on 21-Aug-1978 aged 18, and progressed to Chief Inspector on 15-Nov-1990 and Superintendent on 3-Aug-1998. The other 2 defendants are UK company directors in the Webb-site Database.
Censure of Ms Zhu Ya Ying, ex-ED of Suchuang Gas (ex-1430)
SEHK, 9-May-2024
For hidden guarantees issued by the group.
SEHK, 9-May-2024
For hidden guarantees issued by the group.
Re the civil injunction against criminal acts re "Glory to Hong Kong" song
| The Streisand effect
HK Court of Appeal, 8-May-2024
Let's just hope that Barbara Streisand never sings it.
HK Court of Appeal, 8-May-2024
Let's just hope that Barbara Streisand never sings it.
SFC obtains interlocutory asset freezing order against Anita Maria Leung Fung Yee
| Judgment
SFC, 7-May-2024
Up to a value of HK$235m, which the SFC seeks to recover, alleging that she and late husband/ex-legislator Philip Wong Yu Hong used BVI companies and nominee shareholders to sell overvalued TV series licence rights to SMI Culture & Travel (ex-2366).
SFC, 7-May-2024
Up to a value of HK$235m, which the SFC seeks to recover, alleging that she and late husband/ex-legislator Philip Wong Yu Hong used BVI companies and nominee shareholders to sell overvalued TV series licence rights to SMI Culture & Travel (ex-2366).
SFC charges Segantii Capital Management Ltd, CIO Simon Sadler and ex-trader Daniel La Rocca with criminal insider dealing ahead of block trade
SFC, 2-May-2024
SFC, 2-May-2024
MPF intermediary and 4 clients charged with conspiracy over early MPF withdrawal
ICAC, 30-Apr-2024
Of course, this wouldn't be a thing if the savings scheme was not compulsory. MPF is Mandatory Payment of Fees to asset managers and removes workers' free choice over what to do with a substantial portion of discretionary income after living costs, in return for a lump sump (after fees) at 65 when the freedom resumes and they can pay off their debts or gamble. If an employer is willing to spend HK$21k per month on an employee, then currently $2k of that goes into the MPF and $19k goes to the employee, on which they and often their family must survive.
ICAC, 30-Apr-2024
Of course, this wouldn't be a thing if the savings scheme was not compulsory. MPF is Mandatory Payment of Fees to asset managers and removes workers' free choice over what to do with a substantial portion of discretionary income after living costs, in return for a lump sump (after fees) at 65 when the freedom resumes and they can pay off their debts or gamble. If an employer is willing to spend HK$21k per month on an employee, then currently $2k of that goes into the MPF and $19k goes to the employee, on which they and often their family must survive.
Our stories
Help maintain the Webb-site Database
We are commencing the transition of the Webb-site Database to a crowd-sourced model. Whether it survives our Founder's doom depends on whether you, the users, are willing to volunteer your time, in a "Webbipedia" crowd-sourcing of corporate data. So please get involved, and you may get a free lunch at the end of the year. (19-May-2024)
We are commencing the transition of the Webb-site Database to a crowd-sourced model. Whether it survives our Founder's doom depends on whether you, the users, are willing to volunteer your time, in a "Webbipedia" crowd-sourcing of corporate data. So please get involved, and you may get a free lunch at the end of the year. (19-May-2024)
The HK budget supercomputer hallucination
According to Paul Chan's budget speech, at undisclosed taxpayer expense, HK is supposed to produce a machine 3 times more powerful than the world's current fastest, within 2 years, and without using the best chips which were banned by the USA from export to HK following imposition of the National Security Law on HK. (2-Mar-2024)
According to Paul Chan's budget speech, at undisclosed taxpayer expense, HK is supposed to produce a machine 3 times more powerful than the world's current fastest, within 2 years, and without using the best chips which were banned by the USA from export to HK following imposition of the National Security Law on HK. (2-Mar-2024)
HK's Rates reforms: damage to property values, needless complexity and misdirected handouts
It's not too late for the Government to return to fiscal sanity with a simple Rates system rather than practice the populist politics of petty envy. (30-Jan-2024)
It's not too late for the Government to return to fiscal sanity with a simple Rates system rather than practice the populist politics of petty envy. (30-Jan-2024)
Breaking: HK Government withholds Task Force report, citing threat to financial markets stability
We asked for the report. They refused. Now we're really wondering what's in it. (29-Jan-2024)
We asked for the report. They refused. Now we're really wondering what's in it. (29-Jan-2024)
Hong Kong Island, major vehicle exporter?
Transport Department data suggest that HK Island exported a net 1.25m vehicles in 2022, more than are on the roads in the SAR, and the Island is on track to beat that in 2023. Take a look at the data and tell us why! (9-Dec-2023)
Transport Department data suggest that HK Island exported a net 1.25m vehicles in 2022, more than are on the roads in the SAR, and the Island is on track to beat that in 2023. Take a look at the data and tell us why! (9-Dec-2023)
At last, the Webb-site HKSAR Accounts Explorer
In honour of the 25th anniversary of the SAR, a new tool to deep-dive into its financial history. This may be our last major project, but we hope you will agree that it was worth the time. (14-Jun-2022)
In honour of the 25th anniversary of the SAR, a new tool to deep-dive into its financial history. This may be our last major project, but we hope you will agree that it was worth the time. (14-Jun-2022)
HK is running out of time to re-join the World
As our Editor sits in the air-lock waiting to re-enter HK, he looks at the now-unconstitutional quarantine regulations and the harm they are doing to HK. (5-May-2022)
As our Editor sits in the air-lock waiting to re-enter HK, he looks at the now-unconstitutional quarantine regulations and the harm they are doing to HK. (5-May-2022)
A manifesto for Hong Kong
If you're going to be Chief Executive and you don't have a manifesto or any policy expertise beyond Security, Webb-site is here to help! (13-Apr-2022)
If you're going to be Chief Executive and you don't have a manifesto or any policy expertise beyond Security, Webb-site is here to help! (13-Apr-2022)
Employment Support Scheme: the final outcome
After information requests by Webb-site, we reveal that HK's largest ever corporate handout went over-budget by about HK$10bn to a final tally of HK$90.5bn (US$11.6bn) plus costs. We produce a final list of approved claims. (13-Feb-2022)
After information requests by Webb-site, we reveal that HK's largest ever corporate handout went over-budget by about HK$10bn to a final tally of HK$90.5bn (US$11.6bn) plus costs. We produce a final list of approved claims. (13-Feb-2022)
Yorkey (2788): a successful outcome
Webb-site recommends shareholders to vote in favour of the increased offer, as founder David Webb has undertaken to do. Here's the background to our decision. (20-Jan-2022)
Webb-site recommends shareholders to vote in favour of the increased offer, as founder David Webb has undertaken to do. Here's the background to our decision. (20-Jan-2022)
Joining the dots on the ICAC case against Chim Pui Chung and others
The ex-legislator is once again facing criminal charges, this time with his son and others. We examine the past connections between the defendants and the connection between an alleged co-conspirator and one of the subscribers of convertible notes, who has not been charged. (21-Nov-2021)
The ex-legislator is once again facing criminal charges, this time with his son and others. We examine the past connections between the defendants and the connection between an alleged co-conspirator and one of the subscribers of convertible notes, who has not been charged. (21-Nov-2021)
Other news
Mr Wong Ming Chung convicted for paid investment advice on Telegram chat group without licence
SFC, 20-Jun-2024
Mr Wong also works for an unnamed broker, which Webb-site data indicate is Tse's Securities Ltd, since 2010, but he wasn't operating the Telegram group on their behalf. He is fined HK$10k after pleading guilty. We don't know how much he made from the group.
SFC, 20-Jun-2024
Mr Wong also works for an unnamed broker, which Webb-site data indicate is Tse's Securities Ltd, since 2010, but he wasn't operating the Telegram group on their behalf. He is fined HK$10k after pleading guilty. We don't know how much he made from the group.
SFC suspends Shum Wai Nap, ex-PICC (1339), for 7 months for failures in managing a private fund
| Statement of Disciplinary Action
SFC, 20-Jun-2024
As Webb-site noted when PICC was fined on 5-Feb-2024, the manager known only as "S" must have been Shum Wai Nap. In 2020 he moved from PICC to Tianda Asset Management Ltd, but ceased to be licensed there on 24-Apr-2024.
SFC, 20-Jun-2024
As Webb-site noted when PICC was fined on 5-Feb-2024, the manager known only as "S" must have been Shum Wai Nap. In 2020 he moved from PICC to Tianda Asset Management Ltd, but ceased to be licensed there on 24-Apr-2024.
Concentration warning in Changjiu (6959)
SFC, 19-Jun-2024
The top 11 holders have 98.31% of the stock.
SFC, 19-Jun-2024
The top 11 holders have 98.31% of the stock.
Sanction of 4 ex-directors of Enviro Energy (1102)
SEHK, 17-Jun-2024
Including undisclosed connected transactions, being loans and guarantees which benefitted the then-Chairman and the CEO, and an undisclosed criminal prosecution in Shenzhen of the then-Chairman.
SEHK, 17-Jun-2024
Including undisclosed connected transactions, being loans and guarantees which benefitted the then-Chairman and the CEO, and an undisclosed criminal prosecution in Shenzhen of the then-Chairman.
SFC bans Ha Po Kwan, ex-Primas Asset Management Ltd, for 12 months
| Statement of Disciplinary Action
SFC, 17-Jun-2024
For doctoring product sheets for Credit Suisse accumulator contracts (yes, those are still a thing).
SFC, 17-Jun-2024
For doctoring product sheets for Credit Suisse accumulator contracts (yes, those are still a thing).
Insider dealing case against Segantii Capital Management and its chief investment officer transferred to District Court
SFC, 12-Jun-2024
Simon Sadler and Daniel La Rocca could now face up to 7 years in jail if found guilty, although a much lower sentence would be in line with precedent. This time, the SFC names the stock - something that journalists had to find out by trekking to the High Court Registry for a hard copy of the summons, as in this FinTech hub, the SFC's filings and court filings in general are still offline.
SFC, 12-Jun-2024
Simon Sadler and Daniel La Rocca could now face up to 7 years in jail if found guilty, although a much lower sentence would be in line with precedent. This time, the SFC names the stock - something that journalists had to find out by trekking to the High Court Registry for a hard copy of the summons, as in this FinTech hub, the SFC's filings and court filings in general are still offline.
Censure of China Haisheng Juice (ex-0359) and 5 directors
SEHK, 6-Jun-2024
For completing a major disposal without obtaining shareholders' approval.
SEHK, 6-Jun-2024
For completing a major disposal without obtaining shareholders' approval.
SFC cooperates with BCSC in obtaining preservation orders against Anita Maria Leung Fung Yee in British Columbia, Canada
SFC, 5-Jun-2024
The SFC alleges that she and late husband/ex-legislator Philip Wong Yu Hong used BVI companies and nominee shareholders to sell overvalued TV series licence rights to SMI Culture & Travel (ex-2366).
SFC, 5-Jun-2024
The SFC alleges that she and late husband/ex-legislator Philip Wong Yu Hong used BVI companies and nominee shareholders to sell overvalued TV series licence rights to SMI Culture & Travel (ex-2366).
PECS Register monthly update
HK Government, 31-May-2024
What have retired senior HK civil servants been getting up to this month?
HK Government, 31-May-2024
What have retired senior HK civil servants been getting up to this month?
HKSAR v Gordon Ng Ching Hang & 15 others
HK Court of First Instance, 30-May-2024
The verdict of the 3-judge panel on 16 of the "HK 47" who pleaded not guilty to breaching the NSL.
HK Court of First Instance, 30-May-2024
The verdict of the 3-judge panel on 16 of the "HK 47" who pleaded not guilty to breaching the NSL.
Market manipulators convicted in landmark High Court jury trial
SFC, 29-May-2024
Yes, HK still does jury trials, just not on National Security charges. However, 2 of the alleged conspirators have left HK, and we're guessing that they are beyond the reach of HK extradition treaties, which many countries suspended after the National Security Law was promulgated to HK.
SFC, 29-May-2024
Yes, HK still does jury trials, just not on National Security charges. However, 2 of the alleged conspirators have left HK, and we're guessing that they are beyond the reach of HK extradition treaties, which many countries suspended after the National Security Law was promulgated to HK.
William Lam Kin Choi fined HK$300k, banned for 2 years
Accounting & Financial Reporting Council, 28-May-2024
Not his first rodeo - he was banned by the predecessor HKICPA for 12 months in 2018.
Accounting & Financial Reporting Council, 28-May-2024
Not his first rodeo - he was banned by the predecessor HKICPA for 12 months in 2018.
SFC suspends Wong Ka Ching, ex-China On Securities Ltd, for 4 years
| Statement of Disciplinary Action
SFC, 28-May-2024
And we'd all like to know who "Mr X" is.
SFC, 28-May-2024
And we'd all like to know who "Mr X" is.
SFC bans Cheung Wing Hung for 18 months
SFC, 27-May-2024
Following his conviction and HK$6k fine for unlicensed investment services.
SFC, 27-May-2024
Following his conviction and HK$6k fine for unlicensed investment services.
Pre-trial review fixed for false trading in shares of China All Access (ex-0633)
| Webb-site Total Return chart
SFC, 23-May-2024
Ms Wong Yuk Lan pleads not guilty to manipulating the stock between 29-31-Dec-2014. Looking at the past stock data in the Webb-site Database, we cannot see what all the fuss is about. As we've often said, nobody should expect the market to tell them what a stock is worth and which way the price will move.
SFC, 23-May-2024
Ms Wong Yuk Lan pleads not guilty to manipulating the stock between 29-31-Dec-2014. Looking at the past stock data in the Webb-site Database, we cannot see what all the fuss is about. As we've often said, nobody should expect the market to tell them what a stock is worth and which way the price will move.
Yip Chi Wing (ex-KGI Asia Ltd) and Tsoi Chiu Kwan (ex-South China Securities Ltd) jailed for 3 months for false trading
SFC, 17-May-2024
In shares of Times Universal (2310), then known as Forebase International Holdings Ltd, in 2015-2016.
SFC, 17-May-2024
In shares of Times Universal (2310), then known as Forebase International Holdings Ltd, in 2015-2016.
Sanction of Link (8237) and 2 ex-Executive Directors
SEHK, 16-May-2024
Ngan Iek and Siew Pek To, who are brothers-in-law, used most of a bond issue proceeds to repay loans from Ngan rather than the stated purpose of redeeming old bonds, which then defaulted.
SEHK, 16-May-2024
Ngan Iek and Siew Pek To, who are brothers-in-law, used most of a bond issue proceeds to repay loans from Ngan rather than the stated purpose of redeeming old bonds, which then defaulted.
Previously on Webb-site.com
Check out our full list of articles in the archive, since our launch in 1998.
Check out our full list of articles in the archive, since our launch in 1998.
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