Hong Kong's Securities And Futures Commission: Market Misconduct Tribunal Sets Date For CITIC hearing

The Honourable Mr Justice Hartmann, chairman of the Market Misconduct Tribunal (MMT), has directed that the hearing of the proceedings commenced by the Securities and Futures Commission (SFC) against CITIC Limited (CITIC) and five of its former executive directors in relation to alleged disclosure of false or misleading information on CITIC’s financial position in a circular issued on 12 September 2008 shall start on 16 November 2015 (Notes 1 & 2).

The MMT has reserved 16 November 2015 up to the end of December 2015 for the hearing.  The current estimated length of the hearing is 30 days.   

Notes:

1. The five former executive directors are chairman Mr Larry Yung Chi Kin, managing director Mr Henry Fan Hung Ling, deputy managing directors Mr Leslie Chang Li Hsien and Mr Peter Lee Chung Hing, and executive director Mr Chau Chi Yin.
2. Please see the SFC's press release dated 11 September 2014.