SFC suspends Ku Yuen Leung, ex-BOCOM, for 18 months
SFC, 23-Aug-2016
Our take: Mr Ku had deduced that an algorithmic liquidity provider would take his warrants if he bid for the related shares. Bids cannot be "artificial" as they are binding and capable of being hit. Order queues are not measures of demand and supply, they are just a series of binding bids and asks. A lot of demand or supply is not displayed, including that which buys from the best ask or sells to the best bid. The philosophy behind these prosecutions is flawed; the SFC should not encourage people to expect a directional price signal from the order queues.
China CITIC Bank (0998) has RMB 969m "risk incident"ABC announcement
Company announcement, 28-Jan-2016
The wording of the announcement is almost identical to that of Agricultural Bank of China (1288) which reported a RMB 3915m "risk incident" last week.
ABC (1288): "material risk incident" exposes RMB 3,915m
Company announcement, 22-Jan-2016
In China, losing money is as easy as ABC.
China jails former Agricultural Bank VP for life for taking bribesHall of Shame
Reuters, 4-Feb-2015
As a former director he thereby enters the Webb-site Hall of Shame.
Former AgBank (1288) director faces bribe accusations
New York Times, 20-May-2013
Agbank staff face theft rap
HK Standard, 3-Aug-2012
AgBank (1288): ED Yang Kun resigns "due to personal circumstances"
Company announcement, 13-Jul-2012
AgBank (1288): ED Yang Kun assisting relevant authorities with certain investigations
Company announcement, 30-May-2012
Agricultural Bank of China v Lau Yuet Wah & others
HK Court of First Instance, 15-May-2012
ABC tries to recover US$62m in an alleged letter-of-credit fraud. "Although neither the 1st nor the 2nd defendant was subject to criminal prosecution, it is the plaintiff’s case that this was not because the 1st and 2nd defendants are innocent. According to the plaintiff, CCB took the view that the criminal proceedings should take place in Mainland China whereas the relevant Mainland authorities decided not to prosecute on the ground of difficulties in securing witnesses and documents in Hong Kong."

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