Date

Company / Name

Breach Conduct

Disciplinary Actions


30 January 2018

  • Mr Chen Jing, former executive director of TC Orient Lighting Holdings Limited (the “Company”)
  •  

  • MLR3.08(a)
  • MLR3.08(d)
  • MLR3.08(f)
  •  

  • Director’s failure to fulfil fiduciary duties and duties of skill, care and diligence to a standard at least commensurate with the standard established by Hong Kong law, in particular, to:
  •  

  1. Act honestly and in good faith in the interests of the Company, in breach of Rule 3.08(a);
  2.  

  3. Avoid an actual conflict of interest, in breach of Rule 3.08(d); and
  4.  

  5. Apply such degree of skill, care and diligence required as may reasonably be expected of him, in breach of Rule 3.08(f).
  6.  


REGULATORY MESSAGE:

THIS DISCIPLINARY ACTION concerns the director’s failure to perform his fiduciary duties. This decision reminds directors that they must not take advantage of their position as a director or abuse their powers for personal interest and gains.


SANCTIONS:


Public Censure of

     

  • Mr Chen Jing
  •  

with a statement that Mr Chen’s conduct in this matter will be taken into account in assessing his suitability under Rule 3.09 of the Exchange Listing Rules in the event that he should wish to become a director of another issuer on the Exchange in the future.


NEWS RELEASE:

http://www.hkex.com.hk/News/News-Release/2018/180130news?sc_lang=en