Internal Investigation of Market Market for Fortune Global 200 Financial Institution
Lead counsel to a Fortune Global 200 financial institution in the conduct of an internal investigation relating to possible market manipulation.
Overview
We are a market leader in Hong Kong in white collar crime and regulatory defence. Our expertise in this area forms part of our Financial Services Regulatory practice, for which we have been consistently recognized as an outstanding, leading and recommended practice by independent editorial publications, including the International Financial Law Review 1000 (ILFR1000), the Legal 500, Chambers and Partners and Asialaw Profiles, and for which our lawyers are consistently recognized as “leading”, “highly regarded”, “well regarded” and “market-leading” lawyers.
We represent clients who are the subject of investigations or enforcement action by the authorities, including:
the Securities and Futures Commission (“SFC”)
the Insurance Authority (“IA”) (and, prior to the introduction of the statutory licensing regime for insurance agents and brokers under the new Insurance Ordinance (“IO”) (formerly the Insurance Companies Ordinance), disciplinary proceedings before the insurance self-regulatory organizations and their appeal tribunals)
the Hong Kong Monetary Authority (“HKMA”)
the Hong Kong Exchanges and Clearing (“HKEx”) and its subsidiary, the Stock Exchange of Hong Kong (“SEHK”)
the Commercial Crime Bureau (“CCB”)
the Independent Commission Against Corruption (“ICAC”)
Experience
Defence of Regulatory Investigation into Crypto Exchange
Lead counsel to one of the world’s largest cryptocurrency exchanges in connection with an SFC investigation and an HKMA investigation. The exchange has daily digital asset trading volume exceeding US$4 billion.
Defence of SFC Investigation into IPO Sponsor Work
Lead counsel to HKSFC licensed corporate finance adviser with a client base of over 100 Hong Kong listed companies in connection with an SFC investigation of due diligence in connection with an IPO sponsorship.
SFC Inspection of Asset Management Firm with Over USD15 Billion of Assets Under Management
Lead counsel to PRC based asset manager with US$15 billion of assets under management in connection with an SFC inspection of its Hong Kong offices. Successfully assisted client to avoid adverse findings following initial compliance concerns.
Criminal Defence of Former Employee of Financial Institution on Suspicion of Fraud and Dishonesty
Lead counsel to former employee of a US based bank in respect of suspicions of fraud and dishonesty arising from trading activities. Advised on potential criminal offences and prepared submissions which ultimately resulted in no prosecution moving forward.
Successful Appeal to Court of Final Appeal in Precedent Setting Securities Law Case
Lead counsel to a hedge fund manager in a successful appeal to the Court of Final Appeal in a precedent setting case which defined the scope and application of the professional investors exemption.
Employment Dispute Between Former Portfolio Manager and Asset Management Group
Lead counsel to a portfolio manager of a PRC based asset management firm with over US$110 billion of assets under management in connection with potential employment, regulatory and negligence claims arising from a trading loss exceeding US$100 million.
Insights
The Securities and Futures Appeals Tribunal: Challenging SFC Disciplinary Decisions
The Securities and Futures Appeals Tribunal can overturn SFC decisions but more than disagreement as to how the SFC exercised discretion is required
Tips on How to Handle an SFC Investigation
This article provides guidance on how a person who receives an SFC investigation notice should respond to the SFC investigation
SFC Investigations: What to Do When the SFC Appears at Your Door with a Search Warrant
SFC investigations may take place through a search warrant authorizing forcible entry and the search and seizure of documents.