SFC bans RaffAello Capital Limited’s former responsible officer for two years over IPO sponsor failures


The Securities and Futures Commission (SFC) has barred Mr. Tsang Kwong Fai, a former responsible officer and sponsor principal of RaffAello Capital Limited, from working in the industry for two years, starting from July 11, 2023, for violating the SFC’s Code of Conduct. Tsang failed to perform his duties as a sponsor principal, RO, and senior management member of RaffAello, including handling the listing application with due skill, care, and diligence, supervising subordinates in sponsor work, and ensuring compliance with proper systems, controls, and procedures. The SFC considered the severity of Tsang’s misconduct and his disciplinary record before imposing the penalty.

Resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR75


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