SFC suspends Wilson Cheung Kin, ex-Ever-Long Securities, for 9 months over sponsor failures

The case against Ever-Long is ongoing, so we don't yet know to what listing application this relates. Ever-Long is a subsidiary of Styland (0211), which has featured in Webb-site Reports many times over decades.

SFC suspends Wilson Cheung Kin for nine months over sponsor failures

Issue date: 2024-09-23 16:45:00

The Securities and Futures Commission (SFC) has suspended Mr Wilson Cheung Kin, a former responsible officer (RO) and director of Ever-Long Securities Company Limited (Ever-Long), for nine months from 17 September 2024 to 16 June 2025 for breaching the SFC’s Code of Conduct and Sponsor Guidelines (Notes 1 to 3).

Cheung was the sponsor principal in charge of supervision of the execution of a listing application between 2016 and 2018 for which Ever-Long was the sponsor (Note 4).

The SFC found that Cheung failed to discharge his duties as a sponsor principal, an RO and a member of the senior management of Ever-Long, in that he had failed to:

In determining the sanction, the SFC took into account Cheung’s cooperation in resolving the SFC’s concerns and his otherwise clean disciplinary record with the SFC.

End

Notes:

  1. Cheung was accredited to Ever-Long and approved to act as its RO for Type 6 (advising on corporate finance) regulated activity between 16 June 2016 and 31 March 2020. Cheung is currently not accredited to any licensed corporation.
  2. Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission.
  3. Additional Fit and Proper Guidelines for Corporations and Authorized Financial Institutions applying or continuing to act as Sponsors and Compliance Advisers.
  4. The SFC’s disciplinary action against Cheung is related to its disciplinary action against Ever-Long for the listing application in question. As the SFC’s disciplinary action against Ever-Long is still in progress, the SFC will not disclose the details of its disciplinary action against Cheung until the conclusion of its disciplinary action against Ever-Long.
News captured as of:2024-09-23 16:45:00

Source: SFC

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