Date Company/ Name Breach Conduct Disciplinary Actions
14 June 2018

• Ms Zhou Bao Ying, former executive director of Huarong International Financial Holdings Limited

• Director’s Undertaking

• Director’s failure to cooperate in the Exchange’s investigation

REGULATORY MESSAGE:
 

Directors play an important role in overseeing an issuer’s business and affairs. When it comes to investigation into possible breaches of the Exchange Listing Rules, the Exchange relies on the terms of the Director’s Undertaking that the director shall cooperate with its investigation and provide prompt, accurate and complete information requested by the Exchange.

The Director’s Undertaking also provides that the director shall provide his up-to-date contact address to the Exchange for a period of three years from the date on which he ceases to be a director of the issuer, failing which any documents/notices sent by the Exchange shall be deemed to have been served on him at the last known address on the Exchange’s records.

The ability to conduct effective investigation is an important tool of the Exchange to discharge its function to maintain and regulate an orderly market. As a consequence of his failure to cooperate with the Exchange’s investigation, the director may be subject to disciplinary action and a finding of breach will have an impact on his suitability if he wishes to become a director of an issuer listed on the Exchange in the future.         

 

SANCTIONS:
 

Public Censure of
  

• Ms Zhou Bao Ying
 

with a statement that Ms Zhou’s conduct in this matter will be taken into account in assessing her suitability under Rule 3.09 of the Exchange Listing Rules in the event that she should wish to become a director of an issuer listed on the Exchange in the future.            

            

NEWS RELEASE: