SFC bans Fabian Shin Yick for 20 months over IPO sponsor failures

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.

Read more: https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR90