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Market Misconduct Tribunal
The Market Misconduct Tribunal () is an independent body in Hong Kong which is established under the Securities and Futures Ordinance (Cap. 571) (SFO), and is chaired by a judge or former judge of the High Court who sits with two members. Background The Market Misconduct Tribunal (MMT) was established in 2003 under the provisions contained in the SFO. In accordance with the SFO, if it appears to the Securities and Futures Commission (SFC) that market misconduct or a breach of a disclosure requirement under Part XIVA of the SFO has or may have taken place, the SFC may institute proceedings before the MMT. The MMT has jurisdiction to hear and determine any question or issue arising out of or in connection with the proceedings instituted under the SFO. Market misconduct includes insider dealing, false trading, price rigging, stock market manipulation In economics and finance, market manipulation occurs when someone intentionally alters the supply or demand of a security t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Appeal (Hong Kong)
The Court of Appeal of the High Court of Hong Kong (commonly cited as "CA" or "HKCA") is the second most senior court in the Hong Kong legal system. It deals with appeals on all civil law (common law), civil and criminal law, criminal cases from the Court of First Instance of Hong Kong, Court of First Instance and the District Court of Hong Kong, District Court. It is one of two courts that make up the High Court of Hong Kong (which was formerly known as the Supreme Court of Hong Kong). Sometimes criminal appeals from Magistrates' Courts (Hong Kong), Magistrates' Courts with general public importance are also dealt with in the Court of Appeal, either by referral by a single judge from the Court of First Instance, or upon granting of leave on application for review by the Secretary for Justice (Hong Kong), Secretary for Justice. This court also hears appeals from the Lands Tribunal (Hong Kong), Lands Tribunal and various tribunals and statutory bodies. History Before 1976 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High Court (Hong Kong)
The High Court of the Hong Kong Special Administrative Region is a part of the legal system of Hong Kong. It consists of the Court of Appeal and the Court of First Instance; it deals with criminal and civil cases which have risen beyond the lower courts. It is a superior court of record of unlimited civil and criminal jurisdiction. It was named the Supreme Court before 1997. Though previously named the Supreme Court, this Court has long been the local equivalent to the Senior Courts of England and Walesformerly the Supreme Court of England and Wales, renamed by the and has never been vested with the power of final adjudication. Composition Eligibility and appointment A person who has practised for at least 10 years as a barrister, advocate, solicitor or judicial officer in Hong Kong or another common law jurisdiction is eligible to be appointed as a High Court Judge or Recorder. A person who has practised for at least 5 years as a barrister, advocate, solicitor or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities And Futures Commission
The Securities and Futures Commission (SFC) of Hong Kong is the independent statutory body charged with regulating the securities and futures markets in Hong Kong. The SFC is responsible for fostering an orderly securities and futures markets, to protect investors and to help promote Hong Kong as an international financial centre and a key financial market in Asia. Even though it is considered to be a branch of the government, it is run independently under the authorisation of the laws relating to Securities and Futures contract, Futures. The head office is in 54/F, One Island East, 18 Westlands Road, Quarry Bay History The SFC was created in 1989 in response to the stock market crash of 1987. In 1997 following the 1997 Asian Financial Crisis, Asian financial crisis, the regulatory framework was further improved. A comprehensive Securities and Futures Ordinance (SFO) was implemented in 2003, which expanded the SFC's regulatory functions and powers. Andrew Sheng served as c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insider Dealing
Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider information are illegal. The rationale for this prohibition of insider trading differs between countries and regions. Some view it as unfair to other investors in the market who do not have access to the information, as the investor with inside information could potentially make larger profits than an investor without such information. However, insider trading is also prohibited to prevent the director of a company (the insider) from abusing a company's confidential information for the director's personal gain. The rules governing insider trading are complex and vary significantly from country to country as does the extent of enforcement. The definition of insider in one jurisdiction can be broad and may cover not only insiders themselves but also a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Manipulation
In economics and finance, market manipulation occurs when someone intentionally alters the supply or demand of a security to influence its price. This can involve spreading misleading information, executing misleading trades, or manipulating quotes and prices. Market manipulation is prohibited in most countries, in particular, it is prohibited in the United States under Section 9(a)(2) of the Securities Exchange Act of 1934, in the European Union under Article 12 of the ''Market Abuse Regulation'', in Australia under Section 1041A of the Corporations Act 2001, and in Israel under Section 54(a) of the securities act of 1968. In the US, market manipulation is also prohibited for wholesale electricity markets under Section 222 of the Federal Power Act and wholesale natural gas markets under Section 4A of the Natural Gas Act. Examples Pools Agreements, often written, among a group of traders to delegate authority to a single manager to trade in a specific stock for a work per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Hartmann (judge)
Michael John Hartmann GBS () is a senior judge. He is Chairman of the Market Misconduct Tribunal and the Securities and Futures Appeals Tribunal in Hong Kong. Early life and education Hartmann was born in Bombay (now Mumbai), British India on 24 July 1944 to a British father and an Australian mother. He was raised near Orange, New South Wales, Australia. He holds Australian citizenship. Hartmann moved to England at the age of nine. After obtaining his A Levels in England, he moved to Rhodesia (now Zimbabwe). He received an LLB from the University of London through the University College of Rhodesia in 1967. After university, he completed national service in the Rhodesian Army. Legal career Hartmann was admitted as an attorney in Rhodesia in 1971 and practised in Harare. In 1983, he left Zimbabwe and moved to Hong Kong to join the Legal Department as Crown Counsel. He was promoted to Senior Crown Counsel in 1984 and became a Deputy Principal Crown Counsel in 1989. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Lunn
Michael Victor Lunn, GBS, KC, SC (; born 1950) is a senior judge. He is Chairman of the Market Misconduct Tribunal and the Securities and Futures Appeals Tribunal in Hong Kong. Early life Lunn was born in Rhodesia (now Zimbabwe) and was educated in England. In 1968, he won a Richardson Foundation Scholarship to Davidson College in the United States. He graduated from Queens' College, Cambridge with a BA in law in 1972. Legal career In 1973, Lunn was called to the Bar in England and was admitted to Inner Temple. He was a barrister in private practice in England from 1974 to 1977. He moved to British Hong Kong in 1977 and worked in the Attorney-General's Chambers until 1981. From 1982 to 2003, he was in private practice as a member of the Chambers of Gary Plowman, SC. Lunn took silk in 1994. He was vice chairman of the Hong Kong Bar Association from 2001 to 2003. Judicial career Lunn was appointed as a Recorder of the Court of First Instance of the High Court of Hong K ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ian McWalters
Ian Charles McWalters (; born 1951) is Chairman of the Market Misconduct Tribunal and the Securities and Futures Appeals Tribunal in Hong Kong. He is a retired judge and former prosecutor. Legal career McWalters graduated from the University of Sydney with a BA in 1972 and subsequently obtained an LLB in 1975. He was admitted as solicitor in New South Wales, in 1975 and as barrister and solicitor in Papua New Guinea in the same year. He was admitted as barrister and solicitor in the Australian Capital Territory in 1994 and as barrister in Queensland in 2001. McWalters was called to the Bar in Hong Kong in 2001. He took silk in 2005. In 2009, McWalters was appointed Director of Public Prosecutions of Hong Kong. On 1 July 2010, McWalters was appointed as a justice of the peace. Judicial career In 2011, McWalters was appointed a Judge of the Court of First Instance of the High Court of Hong Kong. As he was the DPP in the Department of Justice prior to the appointment, he ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Evergrande Group
The China Evergrande Group was a Chinese property developer, and it was the second largest in China by sales. It was founded in 1996 by Hui Ka Yan (Xu Jiayin). It sold apartments mostly to upper- and middle-income dwellers. Evergrande was incorporated in the Cayman Islands, a British Overseas Territory, and headquartered in the Houhai Financial Center in Nanshan District, Shenzhen, Guangdong Province, China. In 2018, Evergrande became the most valuable real estate company in the world, but by 2021 it had collapsed financially and started the Chinese property sector crisis. The company eventually filed for bankruptcy in the United States in 2023, which was followed by a court-ordered liquidation in Hong Kong in January 2024. History Initially called the Hongda Group, Evergrande was founded by Hui Ka Yan in the southern Chinese city of Guangzhou in 1996, during a period of mass urbanization in China. In October 2009, the company raised $722 million U.S. in an initial pub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Left
Andrew Edward Left (born July 9, 1970) is an activist short seller, author and editor of the online investment newsletter Citron Research, formerly StockLemon.com. Under the name Citron Research, Left publishes reports on firms that he claims are overvalued or are engaged in fraud. Left is known for advising investors on short selling and has often appeared on various media outlets such as CNBC and Bloomberg to talk about his opinions on stocks. In 2017, Left was called 'The Bounty Hunter of Wall Street' by ''The New York Times''. Citron launched 51 investigative reports against S&P 500 companies, as well as several Chinese companies, citing allegations of pyramid schemes, ineffective products and accounting, or business frauds. In 2016, Left was banned for five years by the Hong Kong Market Misconduct Tribunal (chaired by Justice Michael Hartmann) for allegedly disclosing false or misleading information in connection with the publication of a research report on Chinese property ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Law
Financial law is the law and regulation of the commercial banking, capital markets, insurance, derivatives and investment management sectors. Understanding financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally. Financial law forms a substantial portion of commercial law, and notably a substantial proportion of the global economy, and legal billables are dependent on sound and clear legal policy pertaining to financial transactions. Therefore financial law as the law for financial industries involves public and private law matters. Understanding the legal implications of transactions and structures such as an indemnity, or overdraft is crucial to appreciating their effect in financial transactions. This is the core of financial law. Thus, financial law draws a narrower distinction than commercial or corporate law by focusing primarily on financial transactions, the financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities (finance)
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than equity and fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., equity warrants. Securities may be represented by a certificate or, more typically, they may be "non-certificated", that is in electronic ( dematerialized) or "book entry only" form. Certificates may be ''bearer'', meaning they entitle the holder to rights under the security merely by holding the security, or ''registered'', meaning they entitle the holder to rights only if they appear on a security ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
