SFC bans Ivan Chan Chuk Cheung for seven years for IPO sponsor failures

enforcement

The Securities and Futures Commission (SFC) has banned Mr. Ivan Chan Chuk Cheung, a former responsible officer of Changjiang Corporate Finance (HK) Limited (CJCF), from re-entering the industry for seven years. This disciplinary action is a result of Chan’s failure to fulfill his supervisory duties as a sponsor principal in charge of five listing applications. The SFC found that CJCF, as the sole sponsor in these applications, had serious failures, and Chan’s neglect was responsible for these failures. He failed to exercise due skill, care, and diligence, supervise the transaction teams, and maintain appropriate standards of conduct. The SFC considered the gravity of Chan’s failures, the need for a strong deterrent message, his cooperation, and his clean disciplinary record in determining the sanction.

Resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR118

MICRO-LEARNING

Learn with us in small steps

Find out more about us