In this article
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.
Organisations
People
- Hartmann, Michael John 夏正民
- Ho, Cecilia King Lin 何景蓮
- Liu, Lien Lien
- Lu, Ruifeng 呂瑞峰
- Wong, Marian Nam 王嵐
- Yiu, Charles Hoi Ying 姚海鷹
Topics
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy