SFAT affirms SFC decision to fine Yi Shun Da Capital Ltd for sponsor due diligence failures
SFC
SFC, 19-Oct-2021
Relating to the aborted IPO of Imperial Sierra Group Holdings Ltd, in the track record of which, circular payments were supected. The proposed fine was reduced from HK$14m to $4.5m by the SFC and to $3m by the SFAT after considering the firm's financial position. The take-away from this is perhaps don't leave more capital inside your firm than is required by regulations, and pay out profits regularly.
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HKICPA reprimands Fabian Shin Yick
HKICPA, 25-Aug-2021
This is a follow-on action from the SFC, which banned him for 20 months over bad due diligence for an aborted IPO of Imperial Sierra Group Holdings Ltd.
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SFC bans Fabian Shin Yick, ex-CEO of Yi Shun Da Capital, for 20 months over IPO sponsor failures
SFC
SFC, 16-Sep-2020
The IPO company is unnamed, but we can tell you it is Imperial Sierra Group Holdings Ltd, as mentioned in a procedural ruling from the SFAT, where YSD is appealing the SFC's decision to fine it HK$4.5m and ban it. Also, barrister Norman Nip's briefing fee is HK$50k. The IPO did not proceed, following a report by "Blazing Research" alleging fraud. He remains an NED or INED of 4 HK-listed companies.