Moody's Investors Service Hong Kong Ltd v. Securities and Futures Commission

FAMV No. 42 of 2017

[2018] HKCFA 9

IN THE COURT OF FINAL APPEAL OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

MISCELLANEOUS PROCEEDINGS NO. 42 OF 2017 (CIVIL)

(On APPLICATION FOR LEAVE TO appeal from

CACV No. 103 of 2016)

_____________________

Between

	MOODY’S INVESTORS SERVICE HONG KONG LIMITED	Applicant
	and
	SECURITIES AND FUTURES COMMISSION	Respondent

_____________________

Appeal Committee : Mr Justice Ribeiro Acting CJ, Mr Justice Tang PJ and Mr Justice Fok PJ

Date of Hearing and Determination : 7 February 2018

_____________________

D E T E R M I N A T I O N

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Mr Justice Ribeiro Acting CJ:

1.We grant leave to appeal on the following question, namely:

“Does publication of a report having features such as the features contained in the applicant’s Special Comment Report constitute misconduct within the meaning of section 193 of the Securities and Futures Ordinance (Cap 571)?”

2.The appeal will be heard on a date to be fixed.

(R A V Ribeiro)	(Robert Tang)	(Joseph Fok)
Acting Chief Justice	Permanent Judge	Permanent Judge

Mr Paul Shieh SC, instructed by Linklaters, for the Applicant

Mr Benjamin Yu SC and Mr Laurence Li, instructed by Securities and Futures Commission, for the Respondent