The Court of Final Appeal today dismissed the appeal of Moody’s Investors Service Hong Kong Limited (Moody’s) in relation to the Securities and Futures Commission’s (SFC) disciplinary action concerning a special comment report Moody’s published in 2011 (Notes 1 & 2).
The Court will deliver reasons later.
This brings to an end Moody’s challenge on the SFC’s jurisdiction to take disciplinary action against it in this matter (Note 3).
Notes:
- Moody’s is licensed under the Securities and Futures Ordinance to carry on business in Type 10 (providing credit rating services) regulated activity.
- The panel of judges at today’s Court of Final Appeal hearing comprised The Hon Ribeiro PJ, The Hon Tang PJ, The Hon Fok PJ, The Hon Bokhary NPJ and Lord Neuberger of Abbotsbury NPJ.
- For further details of the case, please refer to the SFC’s press releases dated 5 April 2016, 8 June 2017, 17 October 2017, and 7 February 2018.
