SFC Investigations and proceedings against Listed Companies and Directors

The SFC has stepped up its efforts in pursuing after listed companies in recent years. In December 2013, a dedicated Corporate Regulation team was set up to ensure that the right information is disclosed to investors at the appropriate time using powers under s.179 of the Securities and Futures Ordinance (“SFO”) to identify corporate misconduct. This course will provide a comprehensive overview and practical guidance to the investigatory and enforcement powers of the SFC.

Detailed Information

Highlights of the course include:

  • Overview of SFC powers of investigation and enforcement under the SFO
    • Market Misconduct – Parts XVIII and XIV
    • Explanation of different types of market misconduct, in particular insider dealing and various types of market manipulation
    • Implications for listed companies and its directors – what should be done to prevent market misconduct
    • PSI – Part XIVA
    • Overview of other offences and civil liabilities under the SFO
    • Disclosure of interests – Part XV
    • Provision of false or misleading information – s384
    • Civil liability for false and misleading public miscommunication – s391
    • Private rights of action for market misconduct – ss281 and 305
    • SFC’s powers of intervention
    • Petition against listed companies
    • Dual filing regime
    • Current position and proposed statutory backing to major listing rules and extension of market misconduct regime to listed companies
  • Investigations by the SFC into listed companies
    • SFC’s investigative powers and areas of investigation
    • Notices issued under ss179, 182 and 183
    • Likely investigative steps
  • How to handle an SFC investigation
    • Rights and obligations of implicated party
    • Preparing for, dealing with and consequences of interview
    • Use of incriminating evidence gathered in investigations – right to remain silent?
  • Common issues arising in SFC investigation
    • Secrecy provisions
    • Privilege issues

Registration Conditions

To view our registration conditions click here.