16 Sep 2020
The SFC has prohibited Mr Fabian Shin Yick, a former responsible officer (RO) and chief executive officer of Yi Shun Da Capital Limited (YSD Capital), from re-entering the industry for 20 months from 15 September 2020 to 14 May 2022 for breaching the SFC’s Code of Conduct and Sponsor Guidelines.
Shin was a sponsor principal in charge of supervision of the execution of a listing application in 2017 for which YSD Capital was the sponsor.
The SFC found that Shin failed to discharge his duties as a sponsor principal, an RO and a member of the senior management of YSD Capital, in that he had failed to:
- exercise due skill, care and diligence in handling the listing application in question;
- diligently supervise his subordinates to carry out the sponsor work undertaken by YSD Capital; and
- ensure the maintenance of appropriate standards of conduct by YSD Capital.
In determining the sanction, the SFC took into account Shin’s cooperation and willingness to resolve the SFC’s concerns.