Read the full judgment text of FAMV 38/2017 on BabelCite. This Court of Final Appeal judgment was delivered on 6 February 2018 before Mr Justice Ribeiro PJ, Mr Justice Tang PJ, Mr Justice Fok PJ.
Securities and Futures Commission v Yiu Hoi Ying Charles and Others – Application for leave to appeal – Insider dealing – Statutory defence under s.271(3) SFO – Meaning of 'using' relevant information – Whether withholding or non-disclosure constitutes 'use' – Whether interpretation equates use with possession – Whether defence is intended to be exceptional – Relationship between insider dealing provisions and Listing Rules disclosure regime – Leave granted on four questions of law – Leave refused on 'or otherwise' ground – Appeal to be heard on date to be fixed.
Legal issues: Meaning of 'using' relevant information under section 271(3) SFO · Whether Applicant's Interpretation equates 'use' with 'possession' · Whether statutory defence under section 271(3) is intended to be exceptional · Whether SFO insider dealing provisions and Listing Rules disclosure objective are the same
Outcome: Leave to appeal granted on four questions of law; leave refused on the 'or otherwise' ground.
Cited by 2 cases