Traditional Chinese Simplified Chinese Email this article news.gov.hk
Appointments of Chairmen to Market Misconduct Tribunal and Securities and Futures Appeals Tribunal
***********************************************************

     The Chief Executive has re-appointed Non-Permanent Judge of the Court of Final Appeal Mr Justice Michael John Hartmann and appointed Judge of the Court of First Instance of the High Court Mr Justice Azizul Rahman Suffiad as Chairmen of the Market Misconduct Tribunal (MMT) for a term of three years from December 1, 2014, to November 30, 2017. The Chief Executive has also re-appointed Mr Justice Hartmann and appointed Mr Justice Suffiad as Chairmen of the Securities and Futures Appeals Tribunal (SFAT) for a term of three years from January 1, 2015, to December 31, 2017.

     Announcing the appointments today (November 21), the Financial Secretary, Mr John C Tsang, said, "Mr Justice Hartmann has made invaluable contributions to the effective performance of both Tribunals over the years. We are also confident that the experience of Mr Justice Suffiad in the judicial service will contribute to the smooth operation of the Tribunals."

     Mr Tsang also expressed appreciation for the contributions of three outgoing Chairmen of the Tribunals, namely Mr Alan Raymond Wright, Mr Michael Stuart-Moore and Mr William Duncan Stone, to the work of the Tribunals.

     Both the MMT and the SFAT were established under the Securities and Futures Ordinance (Cap. 571) (SFO).

     The MMT deals with six types of market misconduct, namely insider dealing; false trading; price rigging; disclosure of information about prohibited transactions; disclosure of false or misleading information inducing transactions; and stock market manipulation. In addition to the six types of market misconduct, the MMT is also empowered to deal with the breaches of disclosure requirements on price sensitive information of listed corporations with effect from January 1, 2013.

     The SFAT has jurisdiction to review a wide range of decisions made under the SFO by the Securities and Futures Commission (SFC), the Hong Kong Monetary Authority and an investor compensation company recognised by the SFC. It serves as an effective safeguard to ensure that the relevant regulatory decisions are reasonable and fair.
    
     The Chairmen of each Tribunal conduct hearings with the assistance of two members appointed by the Financial Secretary.

Ends/Friday, November 21, 2014
Issued at HKT 17:02

NNNN

Print this page