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Regulatory & Compliance

Our Regulatory & Compliance team at ONC Lawyers aims to ensure that your business prospers without any hindrance caused by your sector’s regulatory framework and regulations. With team members who previously worked for and against enforcement authorities and regulators, our lawyers are capable of advising on a full spectrum of issues from regulation to financial crime and compliance, including contentious and non-contentious regulatory matters.

If you would like to know more about our regulatory & compliance practice or how we can help you or your business, please contact us at (852) 2810 1212 or at regcom@onc.hk.

Please refer to our articles in ‘Knowledge’

Our People

Ludwig Ng
Ludwig Ng
Senior Partner
Sherman Yan
Sherman Yan
Managing Partner
Dominic Wai
Dominic Wai
Partner
Ludwig Ng
Ludwig Ng
Senior Partner
Sherman Yan
Sherman Yan
Managing Partner
Dominic Wai
Dominic Wai
Partner

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Industry ban against a sponsor principal, but who is he?
In the recent determination on the case of Cai Hongping v Securities and Futures Commission (SFAT Application No.3 of 2019) (the “Determination”), the Securities and Futures Appeals Tribunal (the “SFAT”) allowed the application for review by Mr Cai Hongping (“Mr Cai”), a former executive officer and managing director of UBS, and ruled to set aside the decision of the SFC to ban him from re-entering the industry for five years. The SFC’s decision in relation to Mr Cai followed its earlier disciplinary actions against UBS for failing to discharge its obligations as one of the joint sponsors in the listing application of China Metal.
The sanction orders made by the Market Misconduct Tribunal for insider dealing
In our November 2018 Regulatory & Compliance newsletter, we discussed the judgment handed down by the Court of Final Appeal (the “CFA”) in Securities and Futures Commission v Yiu Hoi Ying Charles and Others (2018) 21 HKCFAR 475, in which the CFA held that two former senior executives of Asia Telemedia Limited, Mr Charles Yiu and Ms Marian Wong (the “Respondents”), could not rely on the innocent purpose defence under section 271(3) of the Securities & Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the “SFO”), allowed the appeal by Securities and Futures Commission (the “SFC”) and remitted the case to the Market Misconduct Tribunal (the “MMT”) to deal with the question of sanctions on the basis that the Respondents had been found culpable of market misconduct.
SFC reprimands and fines UBS over HK$11M for multiple compliance breaches – Lessons for wealth management professionals
In August 2021, UBS AG and UBS Securities Asia Limited (“UBSSAL”) (collectively “UBS”) were publicly reprimanded by SFC and fined HK$9.8 million and HK$1.75 million respectively over various regulatory breaches pursuant to sections 194 and 196 of the Securities and Futures Ordinance (“SFO”). This is not the first time UBS has been reprimanded and fined by regulatory bodies for its internal control failures, ringing an alarm bell for all industry participants.
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