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The Market Misconduct Tribunal (the Tribunal) submitted its two reports to the Financial Secretary on March 1, 2013 and May 10, 2013 concerning its proceedings in relation to dealings in the shares of China Huiyuan Juice Group Limited (Huiyuan), conducted on and between July 30 and September 4, 2008.
The Tribunal was chaired by Mr Justice Hartmann, with Mr Chan Chi-hung and Mr Graham Chan Ho-yin as members.
The Tribunal determined that Ms Sun Min was culpable of insider dealing, contrary to section 270(1)(e) of the Securities and Futures Ordinance (Cap 571) (the Ordinance).
Pursuant to section 257(1) of the Ordinance, the Tribunal made the following orders:
(i) pursuant to section 257(1)(a), that she shall not, without the leave of the Court of First Instance, be a director of a listed corporation in Hong Kong for a period of nine months calculated from May 14, 2013;
(ii) pursuant to section 257(1)(b), that she shall not, without the leave of the Court of First Instance, in Hong Kong, directly or indirectly, in any way acquire, dispose of, or otherwise deal in any securities or futures contract, or any interest in such instruments, for a period of nine months calculated from May 14, 2013;
(iii) pursuant to section 257(1)(c), that she shall not again perpetrate any conduct which constitutes insider dealing as that form of market misconduct is defined in the Ordinance;
(iv) pursuant to section 257(1)(d), that she shall pay to the Government the sum of $21,151,712.65;
(v) pursuant to section 257(1)(e), that she shall pay to the Government the sum of $2,734,235.38; and
(vi) pursuant to section 257(1)(f) that she shall pay to the Securities and Futures Commission the sum of $788,833.00.
The Tribunal proceedings in respect of Huiyuan involved one specified person and sat for eight substantive hearing days.
Ends/Friday, May 10, 2013
Issued at HKT 19:03
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