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The Court of Appeal has allowed the Securities and Futures Commission’s (SFC) appeal against the Market Misconduct Tribunal’s (MMT) decision that Mr Cheng Chak Ngok, former executive director, chief financial officer and company secretary of ENN Energy Holdings Limited, had not engaged in insider dealing in the shares of China Gas Holdings Limited in 2011 (China Gas) (Note 1).
The Court in a judgment of 10 September 2018 ordered that the matter be remitted to a differently constituted tribunal to determine solely the question of whether Cheng had dealt in the shares of China Gas.
The SFC is liaising with the MMT on the retrial of Cheng.
Notes:
- The MMT’s report is available on its website.
- For more details, please see the SFC’s press releases dated 25 Jul 2016 and 24 Mar 2017.
