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Alan Linning Joins Sidley Austin in Hong Kong
Alan Linning has joined law firm Sidley Austin LLP as a partner in its Hong Kong office. The firm announced today that Linning has joined its commercial litigation and regulatory practice. Prior to joining Sidley, Linning was Managing Director and Head of Asia Regional Compliance at JPMorgan Chase, a position that he held since 2006. [...]
Hong Kong: Insider Trading Trial Takes Unusual Turn
The high-profile insider trading case in Hong Kong against former Morgan Stanley managing director Du Jun took an unexpected turn today when it emerged that Morgan Stanley compliance officers approved the trades of Du Jun at issue due to confusion as to the name of the security involved. The FT reports that in February 2007, [...]
Hong Kong: SFC Obtains Third Criminal Conviction for Insider Trading in Last Twelve Months
In Hong Kong, Andy Lam King Hung, an accounting manager at Chinese Estates Holdings Ltd., was convicted on two criminal charges of insider dealing in the shares of Chi Cheung Investment Co, Ltd. He was remanded in custody pending his sentencing April 20, 2009, AHN reports. An investigation by Hong Kong’s Securities and Futures Commission [...]
Hong Kong: Former Investment Banker Found Guilty in First-Ever Insider Trading Trial
In Hong Kong, a former investment banker with BNP Paribas Peregrine Capital and four others have been found guilty of insider trading in the first-ever trial for such an offense under the Securities and Futures Ordinance. The Standard reports that Ma Hon-yeung, Ivy Lo Yuk-wah, Sammy Ma Hon-kit, Cordelia Tso Kin-wah and Ronald Ma Chun-ho [...]
Hong Kong: Securities Regulators Scale Back Proposed Trading Blackout Rule
Securities regulators in Hong Kong have scaled back a plan that would have extended the blackout on share trading by company insiders to as long as seven months after more than 200 companies objected. Instead, a new proposal issued Thursday states that company directors and others with sensitive knowledge would be blocked from trading their [...]
Class of 33,000 from Hong Kong Plans Securities Class Action Against HSBC for Lehman Losses
A group of 33,000 Hong Kong investors in Lehman Brothers-backed financial products plans to file a securities class action in the U.S. against HSBC, after Lehman’s collapse left their investments possibly worthless. The AP reports that the lawsuit is expected to be filed this month in New York against HSBC for its role in distributing [...]
Former Heller Partner David Chu Joins Dechert in Hong Kong
David Chu has joined law firm Dechert as a partner in its Hong Kong office. Chu, who was previously a partner with Heller Ehrman in Hong Kong, will join Dechert’s white-collar and securities litigation practice, Asia Legal Business reports. Dechert Chairman Barton J. Winokur stated that “David Chu’s presence will significantly enhance our capability to [...]
Hong Kong: SFC Charges Former Investment Banker with Insider Trading
Hong Kong’s Securities and Futures Commission has charged a former investment banker at regional broker CLSA with insider trading. The Financial Times reports that this is the fourth insider trading case brought this year by the SFC. According to the SFC, in May 2005 Allen Lam of CLSA tipped off a local fund manager about [...]