A Hong Kong practicing solicitor, Mr Tse Yin Fung, was convicted today at the Eastern Magistrates’ Courts for violating the secrecy provision under the Securities and Futures Ordinance (SFO) following a prosecution brought by the Securities and Futures Commission (SFC).
Tse, the principal of the law firm, O Tse & Co., pleaded guilty to one count of contravention of the secrecy provision and was fined $25,000. He was also ordered to pay the SFC’s investigation costs.
The Court heard that Tse, acting as the legal representative of an individual, received confidential information regarding a restriction notice that the SFC had disclosed to that individual.
The individual is a subject of SFC’s investigations of suspected ramp-and-dump cases. The restriction notice prohibits the relevant brokerage firm…
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