The Court of First Instance today dismissed an application for leave to apply for judicial review by Mr Leslie Chang Li Hsien, former deputy managing director of CITIC Limited (CITIC), against a decision by the Securities and Futures Commission (SFC) to initiate proceedings before the Market Misconduct Tribunal (MMT) against him (Note 1).
The SFC earlier commenced proceedings in the MMT against CITIC and five of its former executive directors including Chang alleging market misconduct (Note 2).
The MMT’s hearing is scheduled to commence on 16 November 2015.
Notes:
- The Honourable Mr Justice Au indicated the court would hand down reasons at a later date.
- For more information, please see the SFC's press releases dated 11 September 2014 and 15 December 2014.