Aggregated News From Investment Management Regulators

Court upholds jail sentence against former GEM-listed group finance manager for insider dealing

Report/Flag

Please complete the required fields.



The Court of First Instance has upheld the jail sentence against Mr Au-Yeung Siu Pang, a former group finance manager of China CBM Group Company Limited (China CBM), for insider dealing but allowed the custodial term of his two convictions be served concurrently.

Au-Yeung, who had been allowed bail pending the appeal following his sentencing in 2019, has now been sent to jail to serve his sentence (Note 1).

In allowing the appeal, Deputy High Court Judge Tam rejected all grounds advanced by Au-Yeung but exercised discretion and ordered the jail term be served concurrently, effectively shortening his imprisonment from four months to three months considering it had already been almost nine years since Au-Yeung committed the offence (Note 2).

The Court of First Instance also ruled that the original fine of $120,000 and investigation costs to be paid to the Securities and Futures Commission (SFC) in the sum of $33,365 remained unchanged (Note 3).

Notes:

  1. Please see the SFC’s press releases dated 7 September 2017, 8 December 2017 and 19 February 2019.
  2. Au-Yeung was sentenced by the Eastern Magistrates’ Court on 19 February 2019 to four months of imprisonment after he was convicted of insider dealing in China CBM.
  3. A copy of the judgment (HCMA163/2019) is available on the Judiciary website (www.judiciary.gov.hk).

This news item was originally published by the Securities and Futures Commission (SFC HK). For more information, see the Source Link.

Regulator Information

Abbreviation: SFC
Jurisdiction: Hong Kong

Recent Articles

The SEC Levels Up: Statement on In re Activision Blizzard

Feb. 3, 2023 Today, the Commission announced a $35 million settlement with Activision Blizzard Inc. (“Activision Blizzard”).

Mr William Stephen Cairns (date of Birth 15 January 1949) of Key West, Doyle Road, St Peter Port Guernsey GY1 1RG — GFSC

Date of prohibition order pursuant to section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 and prohibited functions: From 2 February 2023 until 2 July

Mr Du Preez Gert Vermeulen (Date of Birth 5 August 1987) of Doyle Court, Doyle Road, St Peter Port Guernsey GY1 1RD

Date of prohibition order pursuant to section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 and prohibited functions: From 2 February 2023 until 2 Mar

Publication of a Notice of the fact of a Prohibition Order and a Discretionary Financial Penalty — GFSC

On 2 February 2023, the Commission imposed discretionary financial penalties as follows:  Mr William Stephen Cairns (“Mr Cairns”) a financial penalty of £133,000; and  Mr Du Preez Gert Vermeulen (“M

Get the latest from Regulatory.News in your inbox!

×