Li, Deqiang 李德強
MMT sanctions Mayer (1116) and its former senior management for late disclosure of inside information
| MMT Report
SFC, 21-Dec-2023
Once again the MMT has, wrongly in our view, fined a listed company for the failures of its directors, thereby punishing the shareholders from whom information was withheld. The MMT writes that the company's "culpability was its failure to have in place policies and guidelines" - but that is, of course, a failure of the directors to put those in place.
SFC, 21-Dec-2023
Once again the MMT has, wrongly in our view, fined a listed company for the failures of its directors, thereby punishing the shareholders from whom information was withheld. The MMT writes that the company's "culpability was its failure to have in place policies and guidelines" - but that is, of course, a failure of the directors to put those in place.
MMT finds Mayer (1116) and its former senior management liable for late disclosure of inside information
| MMT report
SFC, 9-Aug-2023
This was on the second attempt, after an earlier tribunal in 2017 (with a different Chairman and the same 2 lay-members) was found by the Court of Appeal to have erred in law. The previous Chairman, Kenneth Kwok Hing Wai, became too ill to proceed with the remitted hearing. The events date back to 2012.
SFC, 9-Aug-2023
This was on the second attempt, after an earlier tribunal in 2017 (with a different Chairman and the same 2 lay-members) was found by the Court of Appeal to have erred in law. The previous Chairman, Kenneth Kwok Hing Wai, became too ill to proceed with the remitted hearing. The events date back to 2012.
Mayer (1116) ex-directors v SFC & MMT
HK Court of Appeal, 5-Jun-2020
The appeal against the Market Misconduct Tribunal's findings is allowed on an error of law, and the case is remitted back to the MMT. The tribunal had considered the case based on whether the withheld information would have affected the pre-suspension price, rather than whether it would have affected the price after taking into account other post-suspension events.
HK Court of Appeal, 5-Jun-2020
The appeal against the Market Misconduct Tribunal's findings is allowed on an error of law, and the case is remitted back to the MMT. The tribunal had considered the case based on whether the withheld information would have affected the pre-suspension price, rather than whether it would have affected the price after taking into account other post-suspension events.
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