The Securities and Futures Commission (SFC) commenced criminal proceedings in the Eastern Magistrates’ Court today against Mr Au-Yeung Siu Pang over alleged insider dealing in the shares of China CBM Group Company Limited (China CBM) (Note 1).
The SFC alleges that between 28 and 29 March 2012, Au-Yeung, at the time an employee of China CBM, sold, and counseled or procured another person to sell China CBM shares after obtaining information on the unaudited annual results of China CBM and its subsidiaries (the Group) before the results announcement that the Group had suffered a loss of about RMB52 million for the year ended 31 December 2011.
No plea was taken and the hearing was adjourned to 17 October 2017.
