Pouncing dragon, hidden tiger - A case of regulatory overreach?

Chee Keong Low, Mohan Datwani, Samantha Datwani

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By a unanimous decision the Court of Appeal held in SFC v Tiger Asia Management LLC that the remedial consequences of the orders as set out under s 213 of the Securities and Futures Ordinance empower the court to definitively determine whether there has been a contravention of a market misconduct provision applicable to both Pts XIII and XIV in an abridged manner without going into the requirements and standards of proof under the mutually exclusive civil and criminal regimes. While appreciating that the decision provides the Securities and Futures Commission with an important and valuable tool with which to protect investors, the authors are nonetheless concerned as to how s 213 can be said to have such an extensive ambit given its potential for regulatory overreach and argue in favour of a reversal of the judgment by the Court of Final Appeal.
Original languageEnglish
Pages (from-to)701 - 716
Number of pages16
JournalHong Kong Law Journal
Issue number3
Publication statusPublished - 2012

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