Clifford Chance

On the inside - Hong Kong Court of Final Appeal dismisses solicitor's appeal in fraud case

7 November 2018

The Court of Final Appeal (CFA) has unanimously dismissed an appeal by a solicitor against a decision of the Court of First Instance (CFI), upheld by the Court of Appeal, that he and two others had contravened section 300 of the Securities and Futures Ordinance (SFO) by engaging in fraud or deception involving securities listed outside Hong Kong. The decision has been welcomed by the Securities and Futures Commission (SFC) as an important step in enforcing insider trading laws even where the actual execution of the transaction takes place on overseas exchanges.

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