Articles: Market manipulation

Suspected syndicate leader charged in connection with ramp-and dump schemes
SFC, 24-Nov-2022
Mr Tam, whose SFC licence was revoked in 2003 for rat-trading and other malpractices, featured in our article "Bubbles and troubles in Hong Kong" in Sep-2015, which featured several listed companies in what became our "Enigma Network" of 2017. The current charges relate to alleged activity in shares of 2 listed companies in 2018-2019.
Hao Wen (8019): certain regulatory authorities attended an HK office on 9-Nov
Company announcement, 15-Nov-2022
The uncertain authorities would be the ICAC and SFC, based on their announcements of 10-Nov.
CBK (8428): a regulatory authority attended the head office in HK on 9-Nov
Company announcement, 11-Nov-2022
This was probably the SFC or ICAC, given the large joint raid they announced yesterday.
SFC and ICAC joint operation against sophisticated ramp-and-dump syndicateICAC announcement
SFC, 10-Nov-2022
Wong King Hoi jailed for 2 weeks for obstruction of SFC's search operation
SFC, 10-Nov-2022
Wan Cheng Metal Packaging (8291): a regulatory authority attended the head office on 9-Nov
Company announcement, 10-Nov-2022
This was probably the SFC or ICAC, given the large joint raid they announced on 10-Nov.
Court convicts Wong King Hoi of obstruction of SFC's search of his home
SFC, 27-Oct-2022
Relating to suspected market manipulation of shares of an unnamed HK-listed company. We don't know which, but we note that until 15-Apr-2021, Mr Wong was an ED of HK Education (1082), a company in what we called the "Enigma Network".
13 charged following SFC and Police joint operation against ramp-and-dump syndicate
SFC, 30-Sep-2022
Shares of 2 unnamed listed companies were involved. We note that 2 of the named defendants, Tam Sze Leung and Tam Chung Wai (formerly Tam Sze Chun), were parties to an unsuccessful judicial review of the SFC's powers to issue restriction notices on their brokerage accounts. The judgment revealed that the SFC suspected market manipulation in WMCH Global (8208).
Arrest warrant issued for Ms Zeng Lingxi
SFC, 1-Apr-2021
The alleged social media pump & dumper has put in some social distance and failed to appear in Court. The SFC has "credible information" that she left HK on 15-Nov-2020. According to an earlier announcement, she was not restricted from travelling but had to notify the SFC in advance of her travel plans.
SFC freezes accounts at 15 brokers in suspected social media pump & dump
SFC, 15-Mar-2021
Can anyone guess the stock?
SFC and Police joint operation against suspected pump & dump syndicate
SFC, 5-Mar-2021
SFC freezes accounts at 2 brokers in suspected social media pump & dumpRestriction Notices
SFC, 9-Feb-2021
The SFC suspects 2 unnamed stocks were manipulated between Mar-Oct-2020. The Restriction Notices target HK$249.5m. This could relate to Skymission (1429) which collapsed 92.1% on 30-Oct, and the other may be Beng Soon Machinery (1987) which in our view is still a bubble.
SFC freezes accounts at 5 brokers, suspects market manipulationRestriction Notices
SFC, 26-Jan-2021
The stock which was allegedly manipulated between Sep-2020 and Oct-2020 is not named. The total amount targeted in the Restriction Notices is HK$153.78m. We note that one of the brokers, Realord Asia Pacific Securities Ltd, is owned by Realord (1196), which we consider is in a bubble. 3 of the brokers (Realord, AMC Wanhai and Eddid) were in the top 7 CCASS Participants in that stock at 30-Sep-2020.
SFC restricts 3 client accounts at CNI Securities Group Ltd linked to suspected market manipulationRestriction Notice
SFC, 23-Dec-2020
The Gazette Notice reveals the amount involved is HK$109.9m. The unnamed alleged manipulated stock is probably in the Enigma Network, for which CNI has done multiple placings.
Mr Ke Wen Hua pleads guilty to false trading in Carry Wealth (0643) in 2011, fined HK$30k
SFC, 14-Sep-2020
SFC obtains arrest warrants for fugitive alleged manipulators of shares of Ching Lee (3728)
SFC, 31-Aug-2020
SFC starts criminal prosecution for market manipulation of Ching Lee Holdings LtdPDF
SFC, 13-Aug-2020
SFC issues restriction notices to two brokers to freeze client accounts linked to suspected market manipulation
SFC, 11-Aug-2020
SFC starts false trading prosecution against Ke Wen Hua
SFC, 2-Jul-2020
Almost 8 years after the alleged dealing in Carry Wealth (0643), the SFC races into action. Case adjourned as he now needs more time to seek legal advice.
SFC freezes 6 client accounts at China Fund Securities Ltd, suspects manipulation of Hon (8259)CCASS movements
SFC, 21-Jan-2020
SFC obtains injunctions, suspects pump & dump of Ching Lee (3728) in 2016
SFC, 27-Aug-2019
The stock subsequently moved from GEM to the Main Board on 18-Sep-2017. The alleged manipulative scheme was planned and commenced before the listing on 29-Mar-2016 and lasted until the bubble burst on 7-Sep-2016. We note that the listing was sponsored by Kingsway Capital Ltd and the joint bookrunner was SBI China Capital Financial Services Ltd. As announced upon listing, the top 5 placees had 82.50% and the top 10 had 98.83% of the placing.
Mr Tsoi Wan, ex-Enlighten Futures, convicted of market manipulation
SFC, 23-May-2019
SFC issues restriction notices to 9 brokers freezing client accounts linked to suspected market manipulation of China Ding Yi Feng (0612) shares
SFC, 20-Mar-2019
We note that the Gazette Notices published on 29-Mar-2019 do not attach the normal "Statement of Reasons" that they refer to.
SFC prohibits brokers' client from placing orders for derivative warrants
SFC, 4-Jan-2019
The SFC sketches allegations that a trader bought warrants, then bid up the underlying stock, then sold warrants, then sold the stock, and somehow made a profit repeating this pattern despite the often-wide spreads in DWs. In our view a binding order can never be false, and the SFC should not encourage the fallacy that bids and offers in the market should provide a predictive price signal to investors. They are no more than bids and offers capable of being executed. The investigation continues - but aren't there better things on which to spend limited enforcement resources?
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.
SFC suspends Ko Cho Ting, of Emperor Securities, for 2 years
SFC, 3-Aug-2016
Notice to compensation claimants re Tsoi Bun
SFC, 23-Sep-2015
The SFC seeks 207 counterparties who have not claimed HK$4.6m compensation under the court order in the Tsoi Bun futures opening-auction manipulation case. Their names and brokers are in the appendix, so get in touch if you are on the list.
USA v Navinder Singh Sarao
US Department of Justice, 21-Apr-2015
Market manipulator fined and sentenced to community service
SFC, 7-Aug-2014
Former licensee convicted of manipulating derivative warrants and CBBCs
SFC, 22-Jul-2014
Court orders futures trader to compensate investors over HK$13mJudgment
SFC, 14-Jan-2014
Court dismisses appeals against market manipulatiion convictions
SFC, 13-Jan-2014
Retail investor Mr Pak Wing Yiu sentenced for false trading
SFC, 12-Dec-2013
Retail investor convicted of false trading
SFC, 28-Nov-2013
Market manipulator Au Wai Lok sentenced to community service
SFC, 26-Aug-2013
Investor Mr Au Wai Lok convicted of market manipulation
SFC, 8-Aug-2013
Court of First Instance dismisses SFC’s appeal against fund manager’s acquittalJudgment
SFC, 27-May-2013
Investor Mr Lee Lam Chong convicted of manipulating CBBC
SFC, 25-Apr-2013
Stephen Yenn Man Han convicted of false trading
SFC, 22-Apr-2013
VST (0856) Chairman Li Jialin jailed for rigging his stock priceHall of Shame
SFC, 31-Oct-2012
He is thereby inducted to the Webb-site Hall of Shame. That's the second new member this week!
VST Chairman & CEO resigns due to "personal reasons and unavailability...for a period of time"
Company announcement, 31-Oct-2012
Love the evasive text! He will be unavailable because he has been jailed for 6 months for rigging the stock price and disqualified from being a company director for 1 year. He still owns 37.7% of the company.
VST (0856) chairman convicted of price rigging
SFC, 22-Oct-2012
Patrick Fu Kor Kuen & Francis Lee Shu Yuen v HKSAR: costs
HK Court of Final Appeal, 27-Aug-2012
Court sentences two market manipulators to serve community service orders
SFC, 13-Jul-2012
Duncan Chui Tak Keung & Peter Yau Chung Hong found culpable of false trading, price-rigging & market manipulation
Market Misconduct Tribunal, 9-Jul-2012
Magistrate convicts broker and client of market manipulation
SFC, 29-Jun-2012
Patrick Fu Kor Kuen & Francis Lee Shu Yuen v HKSAR
HK Court of Final Appeal, 24-May-2012
Court of Final Appeal quashes warrant traders' convictions
SFC, 24-May-2012
Court fixes pre-trial review date of market manipulation case
SFC, 24-May-2012
We note that Mr Yenn was suspended for 12 months from 25-Aug-2009 for "manipulative order placing activities" and "expressed contrition for his conduct" then. The new allegation relates to 8-Nov-2010, less than 3 months after his suspension finished.
Magistrate declines SFC application to increase sentence on futures manipulator Tsoi Bun
SFC, 15-May-2012
Magistrate allows broker Mr Chan Yuk Hing to change plea
SFC, 6-Feb-2012
Court of First Instance overturns broker's market manipulation conviction
SFC, 3-Feb-2012
SFC v Pan Ming
HK Court of First Instance, 3-Feb-2012
The reasons for Mr Pan's successful appeal.
Futures trader Tsoi Bun convicted of price rigging after retrial
SFC, 30-Jan-2012
Mr Chan Yuk Hing, ex-KGI Asia Ltd, convicted of market manipulation in Multifield (0898)
SFC, 26-Jan-2012
Magistrate acquits investor Mr Chan Wing Fai of market manipulation
SFC, 13-Jan-2012
SFC appeals fund manager's acquittal
SFC, 6-Jan-2012
Magistrate acquits fund manager of market manipulation
SFC, 8-Dec-2011
District Court further adjourns trial of VST chairman
SFC, 15-Sep-2011
Investor Mr Lam Lok Yin convicted of manipulating CBBCs
SFC, 28-Jun-2011
Court of First Instance grants order for re-trial on futures manipulation case
SFC, 13-Jun-2011
SFC v Tsoi Bun
HK Court of First Instance, 13-Jun-2011
Court of Final Appeal grants warrants traders permission to appeal
SFC, 7-Jun-2011
Patrick Fu Kor Kuen & Francis Lee Shu Yuen v HKSAR
HK Court of Final Appeal, 7-Jun-2011
Retail trader Mr Liang Lin acquitted of market manipulation
SFC, 28-Mar-2011
Cardlink is now named Phoenitron (8066). We note that total volume in the stock that day was 6.455m shares and turnover was $6.825m, an average price of $1.057, which was 45.0% above the previous close. The stock reached a high that day of $1.10 and closed the day at $0.65. Perhaps the more salient question is whether or not this kind of arrangement amounts to a fraud on the Immigration Department.
Suspended sentence for CBBC manipulator Mr Fong Ka Lai
SFC, 24-Mar-2011
Retail investor Tony Yu Yau Ki sentenced for false trading
SFC, 24-Mar-2011
Court of Appeal declines permission for further appeals against market manipulation convictions of warrant traders
SFC, 3-Mar-2011
HKSAR v Patrick Fu Kor Kuen & Francis Lee Shu Yuen
HK Court of Appeal, 2-Mar-2011
Broker jailed for five months for market manipulationCCASS changes 8-Apr-2008
SFC, 1-Mar-2011
See CCASS movements on 8-Apr-2008 at the second link above. That was the settlement day for the off-market trade after market hours on 2-Apr-2008. An arrest warrant is still outstanding for Anthony Mei Hsiao Tung, according to the SFC's prosecutions calendar.
SFAT affirms SFC decision to ban Mr Zhang Xiaoming for 1 year for false trading
SFC, 21-Feb-2011
Retail investor given community services order for false tradingManipulation mania
SFC, 30-Dec-2010
Another misguided prosecution of what others would call algorithmic trading. Nobody had to buy the warrants at the price Mr Chiu offered, or sell them at the price he bid, and all his bids and offers were binding. There's nothing false about it. For more, see our article "Manipulation Mania" at the second link.
Court upholds convictions of warrant traders, reduces sentences
SFC, 23-Dec-2010
SFC bans Ng Kwok Leung for 3 years for price fixing
SFC, 23-Dec-2010
HKSAR v Patrick Fu Kor Kuen & Francis Lee Shu Yuen
HK Court of Appeal, 23-Dec-2010
VST Holdings chairman pleads not guilty in market manipulation case
SFC, 14-Dec-2010
District Court to hear market manipulation case against VST Holdings chairman
SFC, 25-Nov-2010
SFC revokes licence of Chun Peng Fai and bans him for 5 years
SFC, 20-Oct-2010
SFC v Tsoi Bun
HK Court of First Instance, 5-Oct-2010
Chairman of VST (0856) prosecuted for market manipulation
SFC, 30-Sep-2010
SFC fines Chan Hon Man HK$134,580
SFC, 31-Aug-2010
HKSAR v Chan Chin Yuen & others
HK Court of Appeal, 23-Aug-2010
Appeal dismissed in Asia Standard Hotel market manipulation case
SFC, 17-Aug-2010
Retail investor Tsui Hon Wai sentenced for false trading
SFC, 16-Jul-2010
Comment: the SFC contended that he intended the matched trades and wash trades "to attract buyers to the stock so he could sell out at better prices" - but if an increase in volume really attracts buyers, then why wouldn't it also attract sellers? We have trouble following the logic of the SFC's contention.
Manipulation mania
What are markets really for? Does the law on market manipulation, and its enforcement, create unreasonable expectations from investors about the information in market prices, volumes and order queues? We say it does. It is time for the Government and SFC to review their approach and reset public expectations. We also look at shill bidding in auctions. (12-Jul-2010)
SFAT affirms SFC decision to suspend Godwin Chu Kwok Shing for trading malpractice
SFC, 5-Jul-2010
SFC bans Gary Sik Siu Kwan for 4 months
SFC, 5-Jul-2010
Note: the only IPO sponsored by ICEA Capital in 2004 was Lang Chao International Ltd (then 8141, now Inspur International Ltd, 0596).
Former SHK executive given community services order for market manipulation
SFC, 9-Jun-2010
Suspended jail term for false trading
SFC, 31-May-2010
Former SHK executive convicted of market manipulation for client
SFC, 27-May-2010
Traders jailed in first indictment for derivative warrants manipulation
SFC, 13-May-2010
HKSAR v Patrick Fu Kor Kuen & Francis Lee Shu Yuen: reasons for sentence
HK District Court, 13-May-2010
Two warrant traders convicted of market "ping pong"
SFC, 7-May-2010
Retail investor fined for market manipulation in Bauhaus
SFC, 22-Apr-2010
Two convicted of failing to answer SFC questions
SFC, 9-Feb-2010
Arrest warrant issued in market manipulation and fraud case
SFC, 4-Feb-2010
So if anyone has seen this unnamed person, let us know! The SFC says it "will not name the three defendants while the arrest warrant [for 1 of them] remains outstanding" which is odd since 2 of them appeared at the magistracy today. Indeed, the SFC's proscutions calendar names them as Pan Ming and Ng Kwok Leung.
SFC to appeal acquittal of futures trader Tsoi Bun
SFC, 1-Feb-2010
SFC bans Edmond Chau Chin Hung for life and fines him HK$2m
SFC, 28-Jan-2010
Futures trader acquitted of price rigging charges
SFC, 20-Jan-2010
Retail investor Mr Leung Man Kin sentenced for derivative warrant manipulation
SFC, 19-Jan-2010
SFC suspends Connie Cheung Sau Lin for market misconduct
SFC, 17-Dec-2009
Four jailed in HK's largest market manipulation case
SFC, 26-Nov-2009
HKSAR v Chan Chin Yuen & others
HK District Court, 26-Nov-2009
SFC bans Mr Chen Wei, formerly of ICEA, for 4 months for misconduct
SFC, 17-Nov-2009
Note: the only IPO sponsored by ICEA Capital in 2004 was Lang Chao International Ltd (then 8141, now Inspur International Ltd, 0596)
Guilty verdict in HK's largest market manipulation case
SFC, 13-Nov-2009
Futures trader Tsoi Bun restrained from placing orders in pre-open allocation sessions
SFC, 1-Sep-2009
Suspended jail sentence for closing auction manipulation
SFC, 27-Aug-2009
Market manipulator Mr Zhu Li given suspended jail sentence
SFC, 26-Aug-2009
SFC suspends Stephen Yenn Man Han for manipulative orders during auction sessions
SFC, 26-Aug-2009
SFC revokes Mr Yuen Shing Kuen as responsible officer
SFC, 30-Jul-2009
SFC revokes Mr Pang Keng Chan as responsible officer
SFC, 14-Apr-2009
SFC fines KCG Securities Asia Ltd HK$500k
SFC, 14-Apr-2009
SFC fines Macquarie Equities (Asia) Ltd HK$4m
SFC, 19-Mar-2009
SFC bans Mr Wong Hong Wah for 3 years
SFC, 25-Feb-2009
He and a colleague were banned on the grounds that the bid orders they entered and later cancelled "may not have been genuine". Orders are binding though - anyone could hit them. Nobody should be entitled to a signal from the order queues, and the SFC should stop encouraging that notion. Buyers and sellers are entitled to mask their intentions by placing orders in the other direction as long as they don't trade with themselves. When computers do it, it is called algorithmic trading. The bids also provided an opportunity to other sellers.
Market manipulation case transferred to District Court
SFC, 6-Nov-2008
Retail investor convicted of market manipulation
SFC, 22-Oct-2008
Market manipulation case transferred to District Court
SFC, 7-Aug-2008
SFC charges four with conspiracy to manipulate market
SFC, 10-Jul-2008
SFC suspends Mr Ng Yu Hon for 18 months for closing price manipulation
SFC, 7-Jul-2008
Market manipulator William Leung Kam Lai given suspended jail sentence
SFC, 12-Jun-2008
SFC bans Mr Ho Lai forever and fines him HK$98,952 for market manipulation and short-selling
SFC, 8-Apr-2008
Market manipulator Mr Yeung Fong Shiu gets suspended jail sentence
SFC, 6-Mar-2008
Market manipulator Mr Wong Wing Hing given suspended jail sentence
SFC, 3-Jan-2008
SFC suspends Mr Kao Hsien Kuang
SFC, 3-Jan-2008
SFC suspends Ms Ho Yuk Kuen for 6 months and Mr Kan Tsang Fu for 4 months
SFC, 20-Dec-2007
Market manipulator Mr Ho Lai jailed
SFC, 7-Dec-2007
SFC bans Mr Chan Tit Yuen for 1 year
SFC, 19-Nov-2007
Re Mr Chan Chin Yuen
HK Court of First Instance, 31-Oct-2007
Re Mr Chan Chin Yuen
HK Court of First Instance, 6-Sep-2007
Suspended jail term and HK$12,400 fine for market manipulator Mr Chan Tit Yuen
SFC, 5-Sep-2007
Once again the SFC encourages investors to believe that orders on a screen should give some kind of signal to the market. Any participant should be able to mask his intentions by posting orders in the opposite direction, or only displaying part of his supply or demand, as long as he is not trading with himself and is able to honour the orders if they are executed.
SFC suspends Mr Chin Man Chung, ex-Phillip Securities, and fines him HK$71,500 for market manipulation
SFC, 20-Aug-2007
Market manipulator Cheng Ngai given suspended jail sentence & fined HK$30k
SFC, 26-Jul-2007
Market manipulator Mr Wong Kai Wing given suspended jail sentence and fined HK$200k
SFC, 4-Jul-2007
Zou Yishang v SFC
HK Court of Final Appeal, 4-Jun-2007
Zou Yishang v SFC
HK Court of First Instance, 27-Mar-2007
Zou Yishang v SFC
HK Court of First Instance, 14-Mar-2007
SFC prosecutes Mr Ivan Chaw Chi Wai for market manipulation
SFC, 9-Mar-2007
SFC suspends Chan Yuk Chun, ex-China Southern Securities (HK) Ltd, for 3 months
SFC, 5-Mar-2007
SFC suspends Mr Yang Chih Chen for 5 months
SFC, 28-Dec-2006
SFC bans Peter Wong Wei Yin for life
SFC, 17-Nov-2006
SFC suspends Tsoi Bun for 15 months
SFC, 12-Oct-2006
SFC reprimands Mr Mak Wai Kwong, who pays HK$35k instead of 6-week suspension
SFC, 25-Aug-2006
SFC suspends Mr Daniel Lee Sai Wah for 5 months for misleading the SFC
SFC, 23-May-2006
SFC suspends Mr Man Tak Hung, Mr Chan Wing Tat and Ms Angela Kwong Yim Heung for facilitating market manipulation
SFC, 2-May-2006
SFC prosecutes Peter Wong Wei Yin for market manipulation and misleading the SFC
SFC, 26-Apr-2006
SFC prosecutes Ng Hon Chung, Ng Kwok Wing and Joe Cheung Kin Cho for market manipulation in GP NanoTechnology
SFC, 21-Mar-2006
Mo Yuk Ping and two others jailed for market manipulation and perverting justice
ICAC, 16-Jan-2006
SFC prosecutes Cheung Wan Chiu for market manipulation
SFC, 12-Jan-2006
Stephen Lee Sing-wai sentenced to immediate imprisonment for market manipulation
SFC, 10-Jan-2006
SFC prosecutes Tang Shui Fai for market manipulation
SFC, 29-Dec-2005
SFC suspends Mr Lo Tai Wah for 6 months for breaching Code of Conduct
SFC, 7-Dec-2005
SFC reprimands Young Champion Securities Ltd for breaching the Code of Conduct
SFC, 16-Nov-2005
Mr Ngai Leung Wai convicted of misleading the SFC
SFC, 27-Oct-2005
Stephen Lee Sing Wai sentenced to 6 month imprisonment for failure to attend SFC interview during his 3-year suspension period
SFC, 18-Oct-2005
SFC reprimands TISCO Securities Hong Kong Ltd and suspends Mr Wilson Lam Ho Chu & Mr Yam Shun Hung for breaching the Code of Conduct
SFC, 7-Oct-2005
SFC reprimands Lippo Securities Ltd and suspends Richard Han Sze Chao, Cuthbert Chan Ka Lok & Angie Yeung
SFC, 3-Oct-2005
Ms Kong Kwok Yee convicted of misleading the SFC
SFC, 29-Sep-2005
SFC suspends Mr Chan Chuen Leung for 4 months for improper trading activities
SFC, 28-Sep-2005
He ran a real risk of being hit on the bid for 1 million warrants - and nobody had to buy his offer if they didn't want to. Once again the SFC encourages investors to believe that the order queue is some kind of price signal. They should not.
SFC reprimands Mr Ip Hon Man, who pays HK$100k instead of 3 month suspension
SFC, 26-Aug-2005
SFC suspends Edwin Tang Chi Wai for 3.5 months for breaches of Code of Conduct and staff compliance manual
SFC, 16-Aug-2005
SFC v Yang Chih Chen
HK Court of First Instance, 9-Aug-2005
SFC suspends Mr Lok Siu Kee for failure to inquire into suspicious trades in New Chinese Medicine Holdings Ltd
SFC, 15-Jul-2005
Mr Alan Lam Chee Wing gets suspended prison terms for market manipulation
SFC, 4-Jul-2005
After 17 days in custody.
SFC prosecutes Alan Lam Chee Wing for market manipulation
SFC, 17-Jun-2005
Sentencing of Zou Yishang for market manipulation
SFC, 18-May-2005
Mr Zou Yishang prosecuted for market manipulation
SFC, 11-Apr-2005
SFC suspends Mr Ho Kwan Kit for accepting suspicious orders
SFC, 24-Mar-2005
SFC suspends Ms Candy Lui Yee Ying for 4 months for facilitating suspicious trading
SFC, 18-Mar-2005
Katherine Wan Wai Chi sentenced for aiding and abetting market manipulation
SFC, 14-Mar-2005
SFC Prosecutes Katherine Wan Wai Chi for aiding and abetting market manipulation
SFC, 24-Feb-2005
SFC suspends Mr Chan Yuk Fu for 3 months for improper trading activities and breaches of staff trading policy
SFC, 27-Jan-2005
SFC prosecutes Mr Leung Tung Wa for market manipulation in Treadeeasy (8163)
SFC, 15-Nov-2004
SFC prosecutes Mr Chow Lung On for market manipulating in Tern Properties (0277)
SFC, 1-Nov-2004
SFC prosecutes Ms Xu Li for not attending SFC investigation interviews
SFC, 8-Sep-2004
SFC prosecutes Mr Wong Pui Ming for market manipulation in Fujikon (0927)
SFC, 1-Sep-2004
SFC prosecutes Richard Han Sze Chao for market manipulation in Fortuna (0530)
SFC, 28-Jul-2004
Mr Chung Man Keung sentenced to suspended imprisonment in market manipulation case
SFC, 9-Jun-2004
20 arrested in ICAC probe over market manipulation and share placement
ICAC, 27-Feb-2004
SFC suspends Mr Howel G R Thomas of CLSA for 3 months for conducting manipulative orders & misleading client
SFC, 23-Feb-2004
When you fall into a hole, don't try to dig your way out!
For not attending SFC interviews, Mr Eddie Tang Kin Lok jailed for 2 weeks; Mr Cheuk Yik Cheung gets 80 hours community service
SFC, 10-Feb-2004
Tang's sentence equals the time he has been in custody.
SFC prosecutes Mr Eddie Tang Kin Lok for not attending SFC investigation interviews
SFC, 27-Jan-2004
This follows an earlier conviction for the same type of offence on 30-Sep-2003.
SFC prosecutes Mr Cheuk Yik Cheung for not attending SFC investigation interviews
SFC, 20-Jan-2004
Mr Cheung Wai Kei prosecuted for failure to assist SFC investigation
SFC, 13-Jan-2004
SFC suspends Kate Edith Wong Chak Lau for 1 week for misconduct in a market manipulation case
SFC, 22-Dec-2003
SFC reprimands Ms Kitty Ho Yuk Ching, for circumventing Exchange trading rule, distorting price mechanism & failing to keep order records
SFC, 17-Dec-2003
So what is wrong with making a large bid at a low price, when there is no better bid? How can you "depress" a bid price when there isn't a previous bid? The spirit of the rule is to prevent input errors at prices far removed from the nominal price, not to prevent buyers from placing orders at prices they are willing to pay, even if well below previous prices. Nobody has to sell at that price if they don't want to.
Mr Lam Yat Wa gets 6 month suspended sentence and HK$30k fine in market manipulation case
SFC, 5-Sep-2003
SFC suspends Mr Chiu Ming for failure to inquire into suspicious trades
SFC, 6-Aug-2003
SFC prosecutes Mr Wang Changhua for manipulating share price of SEEC Media (0205)
SFC, 29-Jul-2003
SFC suspends Mr Laurence Fong Dig Kwan for 5 months for executing possibly illegal and improper trades
SFC, 28-Jul-2003
SFC prosecutes Mr Wong On Ching for manipulating share price of Victory Group (1139)
SFC, 22-Jul-2003
SFC prosecutes Mr Choi Kam Tui for manipulating closing price of Climax (0439)
SFC, 10-Jun-2003
You can climax at the end of each day, but it is always such a let-down the morning after.
Mr Wong Chi Kit & Mr Chan Yuk Fei: suspended jail sentences for manipulating closing price of Yeebo (0259) & China Development (0487) respectively
SFC, 3-Jun-2003
SFC prosecutes Mr Wong Chi Kit, Mr Chan Yuk Fei & Mr Joseph Poon Lak To for manipulating closing prices
SFC, 20-May-2003
SFC welcomes sentencing in Gay Giano case
SFC, 12-May-2003
SFC suspends Ms Iris Ng Wai Chi for 1 week
SFC, 25-Apr-2003
SFC prosecutes Chan Shing Chun for naked short selling and market manipulation and Johnnie Choy Tin Woo for naked short selling
SFC, 25-Mar-2003
Mr Daniel Hung sentenced to community service for manipulating Climax (0439)
SFC, 11-Nov-2002
SFC Prosecutes Mr Daniel Hung for market manipulation
SFC, 28-Oct-2002
Court dismisses appeals against prison sentences for market manipulation
SFC, 3-Oct-2002
SFC v Choy Wai Zak & Cyril Yuen Sze Ning
HK Court of First Instance, 3-Oct-2002
Judge spares share-scam pair from jail
HK Standard, 24-Jul-2002
Chairman resigns, charged with stock manipulation by Commercial Crime Bureau
Company announcement, 8-Jul-2002
Market manipulators Lau Hing Nam & George Wong Kwing Ming sentenced to community service
SFC, 24-Jun-2002
Share-scam pair accuse Chairman
HK Standard, 22-Jun-2002
SFC Prosecutes Mr Lau Hing Nam & Mr George Wong Kwing Ming
SFC, 10-Jun-2002
Jail for market manipulators Choy Wai Zak & Cyril Yuen Sze Ning
SFC, 18-Mar-2002
SFC suspends Mr Tsang Chi Ming for 6 weeks
SFC, 28-Feb-2002
SFC prosecutes Perfectech chairman's wife Ms Lau Kwai Ngor for creating false market
SFC, 18-Feb-2002
SFC suspends Mr Wu Tai Chuen for 4 weeks
SFC, 17-Jan-2002
SFC suspends Mr Wu Tai Chuen for 4 weeks
SFC, 17-Jan-2002
If a computer were to place such orders, which are binding, and assuming it had sufficient stock/cash to honour the sell/buy orders if they are hit, then it wouldn't it be called algorithmic trading?
Mr Yeung Yik Cheung sentenced in market manipulation case
SFC, 18-Dec-2001
SFC suspends Mr Chan Chuen Leung of Uni-Crown Investment Ltd for 1 month
SFC, 6-Sep-2001
The client was Ms Chan Kiu Chi, who was prosecuted for market manipulation as announced on 16-Jan-2001.
SFC suspends Mr Hung Fan Lau for 4 months for market manipulation
SFC, 22-Jun-2001
SFC prosecutes Mr Lu Wing Lin & Mr Hung Fan Lau for market manipulation
SFC, 22-Mar-2001
SFC prosecutes Ms Chan Kiu Chi for market manipulation
SFC, 16-Jan-2001
SFC suspends Mr Chiu Kam Yuen for 1 month
SFC, 21-Dec-2000
SFC prosecutes Mr Wang Fang for Market Manipulation
SFC, 5-Dec-2000
His broker was Sun Hung Kai Investment Services Ltd, represented by Ms So Wai Yue, who was reprimanded by the SFC on 7-Nov-2001.
SFC prosecutes Mr Lo Yiu Man for market manipulation
SFC, 31-Oct-2000
SFC suspends registrations of Mr Choi Bun Hung
SFC, 26-Oct-2000
SFC reprimands Mr Wan Shek Keung
SFC, 15-Jun-2000
SFC prosecutes Mr Vincent Ngai Man Sang for Market Manipulation
SFC, 14-Dec-1999
SFC prosecutes Mr Sidney Yung Wai Shun for market manipulation
SFC, 24-Aug-1999
SFC prosecutes Mr Lau Kin Chung for market manipulation
SFC, 3-Aug-1999
SFC suspends Mr Wong Kwong Ho & Mr Tam Chack Chung and reprimands Fair Eagle Securities Co Ltd.
SFC, 14-Jan-1999
Real Grant fined for withholding records
South China Morning Post, 28-Feb-1997
Jessie Wong Wing Yee (SFC) v Real Grant Ltd
HK Court of First Instance, 27-Feb-1997

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