Commission

Subscribe to Commission via RSS

作者： 黄紫玲  Amanda Beattie 金杜律师事务所争议解决组

香港证券及期货事务监察委员会（“香港证监会”）开始越来越有创见性地行使其权力；而且，考虑到他们的工作已初显成效，投资者也因此成功就公司招股章程中的失实财务陈述获得相应赔偿，相信香港证监会将会延续其工作方针。

香港证监会已依据香港《证券及期货条例》（“《证券及期货条例》”）第213条的规定成功取得一项法庭命令，要求洪良国际控股有限公司（“洪良”）退还其在2009年首次公开发行中募集的10亿多港元。而与此同时，香港证监会还在努力提升招股章程中所作披露的质量，并提出具有争议的方案，欲就不实招股章程追究保荐人（即，那些为在香港联交所上市的公司提供咨询服务的保荐人）的刑事责任，虽然该方案的磋商期限已推迟至7月末，但上述法庭命令仍将对香港证监会实现其相关努力起推动作用。然而，这对于负有自行呈报义务和新义务的金融机构来说最终意味着什么呢？（前述新义务是指那些即将在2012年12月生效、且要求金融机构自行呈报其客户可疑的市场失当行为的义务。）
Continue Reading 打击市场失当行为 – 又见第213条 …它的打击对象将是什么?

Susan Ning and Yin Ranran

Recently, the Ministry of Commerce (MOFCOM) announced that its Anti-monopoly Bureau is to put up a signboard for the "Office of State Council’s Anti-Monopoly Commission (AMC)".  According to Mr. Yao Jian, a spokesman for MOFCOM, the State Council has approved the formal establishment of the AMC Office (even though the AMC Office has been operational within MOFCOM since the enactment of the Anti-Monopoly Law (AML) in 2008).  

As the third anniversary of the AML draws near, Mr. Yao expects that this move will further enhance effective enforcement of the AML and the coordination among the various ministries under the AMC.Continue Reading Formal Establishment of Anti-Monopoly Commission Office within MOFCOM Approved

By: Susan Ning, Angie Ng and Shan Lining

Last week (between 26 to 27 May 2011), it was reported in the press that Unilever has raised the prices of specific products (including Lux and Hazeline branded shampoos and shower gels) by 10% in some cities including Beijing, Shanghai and Guangzhou (Unilever’s price increases).  This was touted as a surprising move given that Unilever was recently fined by the price authority, the National Development Reform Commission (NDRC) in relation to conduct to do with its proposed price increases just earlier in the month (see below for more details to do with this fine) (Unilever’s price signaling conduct).

This article outlines details to do with Unilever’s price signaling conduct and subsequent price increases and examines whether or to what extent such conduct would be considered in breach of the Price Law and the Anti-Monopoly Law in China.Continue Reading Price signaling and price hikes – a breach of the Price Law or Anti-Monopoly Law?

By: Susan Ning, Shan Lining and Angie Ng

On 6 May 2011, the National Development and Reform Commission (NDRC) announced that a manufacturer of household and personal care products (the Manufacturer) has been fined a total of RMB2 million for breaching the Price Law.  The NDRC also appeared to have made some Anti-Monopoly Law (AML) references in relation to this case.Continue Reading Price hikes and price signaling