Tuesday 10th February 2015

Dear Reader,

NPCSC poll results: not much optimism
The results of the Webb-site Opinion Poll on "NPCSC decision - pocket or not" show that the opponents of the NPCSC proposal don't want to get stuck with it, but they don't expect a veto will produce a better offer for 2022. Meanwhile the proponents recognise that the current offer is fake democracy, but they think it is worth taking in the hope of real democracy later. (10-Feb-2015)

Beijing's 2020 vision for LegCo
In the past few days, it has become clear how Beijing plans to rig the 2020 LegCo elections to claim "universal suffrage" without losing control. This gives even less reason for legislators to approve Beijing's proposal for the 2017 Chief Executive election. (3-Feb-2015)

The architect and surveyor cartels
Webb-site finds written evidence of price-fixing and other anti-competitive practices at the HK Institute of Architects, HK Institute of Landscape Architects and HK Institute of Surveyors. But they do have 1 legislator and 30 seats in the CE's Election Committee, so when will C Y Leung activate the Competition Ordinance? (25-Jan-2015)

Florence Tsang Chiu Wing v Samathur Li Kin Kan & Samuel Tak Lee
HK Court of Final Appeal, 10-Feb-2015

Wanted: Privacy Commissioner
South China Morning Post, 10-Feb-2015
Job requirements: must (1) understand the difference between private and public data; (2) not be a technophobic Luddite; and (3) get on well with Gregory So.

HKICPA fines Shinewing (HK) CPA Ltd and Barry Ip Yu Chak HK$35k
HKICPA, 9-Feb-2015
This relates to the 2008 audit of China Water Industry (1129) and is another joke from the HKICPA - the fine of HK$35k is about 1.4% of the HK$2.58m (including an audit fee of $930k) that the company paid Shinewing in 2008.

J.P. Morgan emails illuminate hiring of China officialís son
Wall Street Journal, 7-Feb-2015
Hats off to WSJ for an article on the connections between PRC Commerce Minister Gao Hucheng, his son Joe Gao Jue, and J.P. Morgan. The main article is paywalled but the e-mails in this sidebar are not.

HKICPA bans Laun Chun Kit for 9 months for groping conviction
HKICPA, 6-Feb-2015

HKICPA bans Chow Chi Hung for 12 months, fines him HK$30k
HKICPA, 6-Feb-2015
The HKICPA firm that he worked for is not disclosed.

ICAC suspect extradited from US to face HK$2.8m fraud charge
ICAC, 6-Feb-2015
Note: Hung Mau Realty & Construction Ltd is now CPC Construction Hong Kong Ltd, a subsidiary of Chevalier International Holdings Ltd (0025).

MMT disqualifies former Water Oasis (1161) CEO Salina Yu Lai Si, orders disgorgement
SFC, 5-Feb-2015
After the insider dealing, her solicitor Peter Sit referred her to a former CUHK Professor of psychiatry who diagnosed that she was having a panic attack when she sold the shares on news of a franchise termination and that she suffered from OCD and Major Depressive Disorder. Justice Hartmann ruled that she knew what she was doing notwithstanding this.

Concentration warning in Finsoft (8018)
SFC, 5-Feb-2015
This follows the warning in a Webb-site article on 31-Dec-2014.

China jails former Agricultural Bank VP for life for taking bribes. Hall of Shame
Reuters, 4-Feb-2015
As a former director he thereby enters the Webb-site Hall of Shame.

LCQ: introducing brokers or "runners" in HK
HK Legislative Council, 4-Feb-2015

Why did the Chinese executive disappear? Itís Ďpersonalí
Bloomberg, 4-Feb-2015

HKSAR v David Wong Wai Kwong
HK Court of Final Appeal, 4-Feb-2015

And much more besides...
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