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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人物
主题
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.
机构
人物
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.