2022 Insider Dealing in Hong Kong – Overview & Update | 27 October 2022

On 27 October 2022, Julia Charlton presented a webinar on Insider Dealing in Hong Kong – Overview & Update. This webinar provided an overview of the laws on insider dealing in Hong Kong and summary of the enforcement action and measures against insider dealing as well as defences to insider dealing.

The webinar also discussed recent key cases relating to insider dealing in Hong Kong and the proposed amendments to enforcement-related provisions of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

#HKEX #insiderdealing #InsiderdealingHongKong

Timecodes:
00:00 Julia Charlton's welcome speech
00:28 Introduction
00:58 Definition and scope - What is insider dealing?
01:40 Definition and scope - 7 circumstances of insider dealing under the SFO
07:33 Definition and scope - Insider dealing in foreign-listed securities
10:55 Definition and scope - "Securities"
12:48 Definition and scope - "Listed securities"
13:27 “Corporation”
13:38 Definition and scope - Person connected with a corporation
15:35 Definition and scope - "Related corporations"
16:21 Definition and scope - "Inside information" must be specific
18:38 Definition and scope - Information in the media, analyst research reports or electronic subscription databases
19:57 Definition and scope - Dealing in securities
20:11 Defences to insider dealing
20:41 Defences to insider dealing - Chinese wall defence
21:13 Defences to insider dealing - Innocent purpose defence
21:57 Defences to insider dealing - Off-market dealings
26:48 Defences to insider dealing - Key case - SFC v. Yiu Hoi Ying Charles and Others
30:59 Consequences of insider dealing
31:49 Consequences of insider dealing - MMT proceedings
33:32 Consequences of insider dealing - MMT orders
34:07 Consequences of insider dealing - Appeals - MMT orders
34:21 MMT case - Re China Huiyuan Juice Group Ltd
36:40 Consequences of insider dealing - Criminal liability
38:15 Consequences of insider dealing - Civil liability - private right of action
39:29 Consequences of insider dealing - Liability of officers of a corporation
42:48 Consequences of insider dealing - Proceedings under section 213 SFO
43:55 Consequences of insider dealing - Landmark cases
45:31 SFC June 2022 Consultation Paper
45:59 SFC June 2022 Consultation Paper - Insider dealing in Hong Kong involving overseas-listed securities (or their derivatives)
50:07 SFC June 2022 Consultation Paper - Insider dealing in Hong Kong-listed securities (or their derivatives) which takes place outside of Hong Kong
50:30 SFC June 2022 Consultation Paper - Alignment with other SFO market misconduct provisions and other major common law jurisdictions
51:29 SFC June 2022 Consultation Paper - Proposed amendments to the SFO

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Julia Charlton:
https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/

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