Saturday 12 March 2016

Dear Reader,

Submission on Electronic Road Pricing
Speak out! Put market forces to work on the roads. Read our response and then tell the Government whether you agree or disagree. Consultation ends this Friday, 18-Mar-2016. (12-Mar-2016)

One registration, two companies
Webb-site reveals how a UK company registered in HK and then swapped names with another one, which illegally kept the HK registration. That company is now a subsidiary of UK-listed Cobham plc. (7-Mar-2016)

Deception behind the Companies Registry paywall
On International Open Data Day, we reveal a network of knock-off companies using the CIBC, Credit Suisse and BNP brands, based in HK with subsidiaries in the UK and New Zealand. If those registries were not free and open, the deception would remain undiscovered. We call on HK Registrar Ada Chung to tear down this paywall. (5-Mar-2016)

Preventing cash shells
Webb-site proposes a new Listing Rule to prevent cash shells. The Cash Shell Test introduces equity discipline for existing companies and provides clarity for those proposing transactions and fund-raising. It should be welcomed by investors, regulators, issuers and their advisers. HKEx needs to build a proper sanitation system for this village rather than dig a new cesspit. (3-Mar-2016)

Duo admit fraud over HK Airlines staff discount air tickets
ICAC, 11-Mar-2016

SFC takes Mayer (1116) and management to MMT over late disclosure
SFC, 11-Mar-2016

SFC bans Raaj J Shah for 12 months
SFC, 10-Mar-2016

China Capital Strategy Ltd & others v Registrar of Companies
HK Court of First Instance, 9-Mar-2016

And much more besides...
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