Hong Kong's Securities And Futures Commission: Court Fixes Date Of Insider Dealing Trial Of Former CITIC Senior Executive

The Eastern Magistrates Court today set down the date for the trial of former senior executive of CITIC Pacific Limited (CITIC), Mr Simon Chui Wing Nin, whom the Securities and Futures Commission (SFC) alleges committed insider dealing. 

The trial will start on 27 August 2012 and last for seven days.

The SFC alleges Chui sold 81,000 shares of CITIC on 9 and 12 September 2008 whilst he knew confidential, price sensitive information about CITIC’s foreign exchange losses before they were disclosed to the market. He is alleged to have avoided a notional loss of about $1.36 million.

Chui, who has pleaded not guilty, continues to be on cash bail of $50,000 (Note 1). 


Note:
1. Please see SFC’s press releases dated 20 October 2011 and 29 February 2012.