Hong Kong: SEC takes enforcement action against two individuals
Posted by nileshkokane on 14 February, 2012
No comments yet
This item was filled under [ Asia, Financial Regulators ]
On February 13, 2012, Hong Kong Securities & Futures Commission (SFC) published that commission has revoked the licence of Mr Paco Ng Kar Lun, and prohibited Ng and Mr Adrian Fong Wai Lap from re-entering the industry for 10 and three years, respectively, from 11 February 2012 (Notes 1, 2 and 3). These decisions follow an SFC investigation into transactions conducted by Ng and Fong in relation to allegations they were involved in trading overpriced shares of Metallurgical Corporation of China Limited (MCC) in the grey market prior to its listing on the Stock Exchange of Hong Kong on 24 September 2009.
The original article can be found at Hong Kong Securities & Futures Commission.
