Date Company/ Name Breach Conduct Disciplinary Actions
30 December 2019

• Mr Hu Guo An (“Mr Hu”), former executive director of Future Bright Mining Holdings Limited (“Company”)




• Rules A.3 and B.8 of Appendix 10

• Director’s Undertaking








                       
• Mr Hu breached (i) Rules B.8 and/or A.3 of Appendix 10 in respect of his dealings in the Company’s shares between 7 December 2017 and 27 February 2018; and (ii) his Director’s Undertaking for failing to comply with the Exchange Listing Rules to the best of his ability.

REGULATORY MESSAGE:

This case involves a public statement that, had Mr Hu remained in office, his retention of office would have been prejudicial to the interests of investors.

This decision emphasises the importance of directors’ strict compliance with securities dealing restrictions within the Exchange Listing Rules. This is of fundamental importance to the integrity and confidence in the governance of listed issuers and the securities market in Hong Kong.

Directors should be reminded that whilst a specific function may be delegated to a staff member, the ultimate responsibility for performance of that function cannot, and still rests with them. Directors are obliged to consider the Exchange Listing Rule implications, adequately supervise the performance of the delegated function, and apply their minds to Exchange Listing Rule compliance.

SANCTIONS:

Public Censure of

• Mr Hu Guo An

with a public statement that, in the Exchange’s opinion, by reason of Mr Hu’s wilful and persistent failure to discharge his responsibilities under the Exchange Listing Rules, had Mr Hu remained in office, his retention of office would have been prejudicial to the interests of investors.

DIRECTION:

• Mr Hu to attend training as described in the news release.

NEWS RELEASE:

https://www.hkex.com.hk/News/News-Release/2019/191230news?sc_lang=en