The SFC has initiated legal proceedings against AMTD Global Markets Limited and its former executives for non-compliance in IPO-related investigations. The SFC’s investigations revolved around suspected fraudulent activities and false or misleading information in the IPOs of certain listed companies, where AMTD was involved as a bookrunner, lead manager, and underwriter. The former executives, including Lo Chi Hang, Philip Yau Wai Man, and See Hiu Lun, did not attend interviews as required by the SFC. If the Court finds that there was no reasonable excuse for their non-compliance, it can order AMTD to produce specified records and the former executives to attend interviews and potentially punish them for contempt of court.
Resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR141