Sunday 7th August 2011
Dear Reader,
NEW ARTICLE
StockMax and
competition for HKEx
We look at the implications of HSBC's proposed StockMax dark pool with
retail investor participation. It's a wake-up call to the Government, SFC and
HKEx that we need to move forward with allowing competition to innovate services
both inside and outside HKEx. We propose measures to achieve this while
preserving fair and orderly markets. (7-Aug-2011)
IN OTHER NEWS
SFC seeks disqualification and HK$2.13bn compensation orders against former
directors of EganaGoldpfeil (0048)
SFC,
1-Aug-2011
We'd be amazed if they ever collect a penny, even if the
order is granted. The defendants can just go through personal bankruptcy while
they are serving (part of) the disqualification time. This does not preclude the
possibility of criminal charges for fraud or false accounting in the case.
One more
voting member of Jockey Club charged over membership scam
ICAC, 1-Aug-2011
HLB Hodgson Impey Cheng & others v HKICPA
HK
Court of Appeal, 1-Aug-2011
Peace Mark: cancellation of listing
Company
announcement, 27-Jul-2011
Almost 3 years after the stock was
suspended with a market value of HK$1.89bn, investors must be wondering whether
any criminal charges will be brought in relation to the fraud suspected by the
liquidators (see our article of 24-Dec-2008).
Ex-China Mobile Vice-chairman gets suspended death sentence
| Hall of
Shame
China Daily, 23-Jul-2011
He is
thereby inducted into the Webb-site Hall of Shame.
Real Gold (0246) appoints unnamed "strategic advisor"
Company announcement, 22-Jul-2011
Well it's
always nice to have a strategy - but isn't the board supposed to have one?
Brian Kan
Ping Chee charged for alleged bribe-for-vote
ICAC, 22-Jul-2011
We thought he only offered carrots to horses!
Government to publish PECS register online
HK
Government, 22-Jul-2011
Webb-site has been publishing the register of
Post-service Employment of Civil Servants online since Oct-2009, obtaining it
monthly from the Civil Service Bureau in the interests of transparency. Now the
Government is going to do it for us - mission accomplished!
Pass it on!
This free newsletter goes to over 20,000 practitioners, issuers,
regulators and investors in Hong Kong's markets. If you enjoy Webb-site, then please
invite a friend to find out
what they are missing and subscribe! Visit our archives, and do your
homework before you invest.
Remember that, apart from our occasional articles, you can follow our daily updates on HK events via RSS, Twitter, or Facebook.
Copyright notice