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Bryan Ng

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Bryan Ng is a partner in Baker McKenzie's Hong Kong office and a member of the Firm's Dispute Resolution Group. He has written articles and delivered trainings and seminars on topical issues including regulatory enforcement matters. Mr. Ng’s practice focuses on disputes related to financial services, regulatory investigations, commercial disputes, and insolvency-related matters. He advises and represents clients from the financial industry in regulatory investigations and disciplinary proceedings. Mr. Ng also represents clients in arbitration and court proceedings, including shareholders' disputes and judicial review.

There has been a rise in cases in which The Stock Exchange of Hong Kong Limited suspends trading in issuers’ shares because they have failed to comply with Rule 13.24 of the Main Board Listing Rules. Rule 13.24 requires an issuer to maintain a sufficient level of operations and assets of sufficient value to support its operations to warrant the continued listing of the issuer’s securities. The Court of Appeal in China Trends Holdings Limited v The Stock Exchange of Hong Kong Limited [2021] HKCA 980 again upheld the Stock Exchange’s decision to suspend trading in an issuer’s shares pursuant to the equivalent of Rule 13.24 under the GEM Listing Rules. The Court of Appeal highlighted the court’s reluctance to interfere with the market regulators’ application of Rule 13.24 and clarified the application of this rule.

“Ramp and dump” or “pump and dump” schemes continue to attract significant press coverage and are an enforcement priority for the Securities and Futures Commission (SFC) in Hong Kong. These schemes do not only have penalties for the fraudsters, but could also have significant implications for SFC-licensed corporations (LCs) who are the gatekeepers for the financial system. Recent statements by the SFC and The Stock Exchange of Hong Kong Limited (SEHK) suggest that the impact of these schemes is not limited to secondary trading and may extend to initial public offerings (IPOs).

We would like to invite you to join our webinar on 28 July 2021 as Baker McKenzie partners across various key jurisdictions provide an overview on the latest developments and trends impacting the AML landscape in Asia. Speakers from Hong Kong, Indonesia, Malaysia and Singapore will share updates on cross-border AML issues being faced across the region and their insights on managing this risk through compliance efforts.

In five recent judicial review applications brought against the Securities and Futures Commission (SFC) and the Magistrate (HCAL 2132, 2133, 2134, 2136 and 2137/2018), the Court of First Instance dismissed challenges to the SFC’s decisions to seize and retain digital devices during its search operations. The Court has confirmed the…

The SFC’s continued clampdown on corporate fraud and misconduct The Securities and Futures Commission (SFC) has frequently emphasized its commitment to combatting corporate fraud and misconduct in recent years. Continuing with these efforts, in July 2019, the SFC issued a Statement on the Conduct and Duties of Directors when Considering…

Summary On 18 January 2019, The Stock Exchange of Hong Kong Limited (SEHK) published its consultation conclusions on proposed changes to the review structure for Listing Committee decisions, which largely adopts the proposals in the consultation paper with modification to the size of the new Listing Review Committee. The amended…

In Securities and Futures Commission v Yiu Hoi Ying Charles and Others (FACV5/2018), the Court of Final Appeal (CFA) handed down a landmark decision on the innocent purpose defence under section 271(3) of the Securities and Futures Ordinance (SFO). The CFA ruled that the respondents “used” the price sensitive information (PSI) when they sold…