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:
- exercise due skill, care and diligence in handling the listing application in question;
- diligently supervise his subordinates to carry out the sponsor work undertaken by Ever-Long; and
- ensure the maintenance of appropriate standards of conduct by Ever-Long.
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:
- 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.
- Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission.
- Additional Fit and Proper Guidelines for Corporations and Authorized Financial Institutions applying or continuing to act as Sponsors and Compliance Advisers.
- 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.
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