The Securities and Futures Commission (SFC) has prohibited Mr Fabian Shin Yick, a former responsible officer (RO) and chief executive officer of Yi Shun Da Capital Limited (YSD Capital), from re-entering the industry for 20 months from 15 September 2020 to 14 May 2022 for breaching the SFC’s Code of Conduct and Sponsor Guidelines (Notes 1 to 3).
Shin was a sponsor principal in charge of supervision of the execution of a listing application in 2017 for which YSD Capital was the sponsor (Note 4).
The SFC found that Shin failed to discharge his duties as a sponsor principal, an RO and a member of the senior management of YSD Capital, in that he had failed to:
- exercise due skill, care and diligence in handling the listing application in question;
- diligently supervise his subordinates to carry out the sponsor work undertaken by YSD Capital; and
- ensure the maintenance of appropriate standards of conduct by YSD Capital.
In determining the sanction, the SFC took into account Shin’s cooperation and willingness to resolve the SFC’s concerns.
- Shin was approved by the SFC to act as an RO of YSD Capital to carry on Type 1 (Dealing in securities) and Type 6 (Advising on corporate finance) regulated activities from 4 November 2015 to 15 May 2018, and as its sponsor principal from 4 November 2015 to 3 February 2016 and from 1 June 2016 to 15 May 2018. He is currently not licensed by the SFC.
- Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission.
- Additional Fit and Proper Guidelines for Corporations and Authorized Financial Institutions applying or continuing to act as Sponsors and Compliance Advisers.
- The SFC’s disciplinary action against Shin is related to its disciplinary action against YSD Capital for the listing application in question. As YSD Capital has made an application to the Securities and Futures Appeals Tribunal for a review of the SFC’s decision to take disciplinary action against it, the SFC will not disclose the details of its disciplinary action against Shin until the conclusion of YSD Capital’s review application.