07/11/2023 | Press release | Distributed by Public on 07/11/2023 02:40
11 Jul 2023
The Securities and Futures Commission (SFC) has prohibited Mr Tsang Kwong Fai, a former responsible officer (RO) and sponsor principal of RaffAello Capital Limited (RaffAello), from re-entering the industry for two years from 11 July 2023 to 10 July 2025 for breaching the SFC's Code of Conduct (Notes 1 & 2).
Tsang was the sponsor principal in charge of supervision of the execution of a listing application from 2017 to 2018, for which RaffAello was the sole sponsor (Note 3).
The SFC found that Tsang failed to discharge his duties as a sponsor principal, RO and member of the senior management of RaffAello, in that he had failed to:
In deciding on the sanction, the SFC took into account all relevant circumstances, including the gravity of Tsang's failures as a sponsor principal and his otherwise clean disciplinary record.
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Page last updated 11 Jul 2023