SFC set to criminalise negligent senior management

Author: | Published: 1 Nov 2010

Hong Kong’s Securities and Futures Commission (SFC) is likely to criminalise senior management by trying negligent directors in criminal as opposed to civil cases.

Clifford Chance’s Asia co-head of regulatory practice, Mark Shipman, said it was highly likely that the SFC would put greater focus on holding senior management more accountable for any regulatory infringements.

But as the level of proof needed for criminal cases was different, confidence in the conviction...