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Insider Dealing

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Event Details:

Speakers: Mr. Sherman YAN, Managing Partner, Head of Litigation & Dispute Resolution, ONC Lawyers

Date: 21 March 2019 (Thursday)

Time: 7:00pm - 9:00pm (Registration starts at 6:30pm)

Venue: Auditorium, 1/F., Duke of Windsor Social Service Building, 15 Hennessy Road, Wanchai, Hong Kong

Language: Cantonese (no simultaneous translation)

CPD Credit: 2 hours

Fee: HK$100-

About the Seminar:

When will a piece of information become “inside information”? Is “inside information” necessarily “price sensitive” information? What are the legal implications for those who are in possession of such information? What should they do and what should they not do? What are the pitfalls? Would it make any difference if the person in possession of the inside information is or is not connected to the corporation? When will a dealing amount to “insider dealing”? What are the possible defences for insider dealing? This course will address these questions as well as the implications of some recent cases in which the defendants’ defence to a charge of insider dealing was accepted by the Market Misconduct Tribunal.

Highlights of the course include:

Legislative overview

Insider Dealing Tribunal / Market Misconduct Tribunal / criminal courts

What is insider dealing?

- When is a person “connected” to a corporation?

- When is information “specific” and “price sensitive”?

- What amounts to insider dealing?

- Analysis of the various modes of insider dealing

Investigation & how to deal with it

Analysis of cases: defending an allegation of insider dealing

The use of experts

Civil sanction or criminal prosecution?

- Who institutes?

- Consequences?

- Case law updates

About the Speaker:

Sherman Yan is the Managing Partner and Head of Litigation & Dispute Resolution of ONC Lawyers. He has many years of experience in handling complex commercial disputes, especially shareholders’ disputes in listed companies and regulatory issues under the Securities and Futures Ordinance. Sherman has frequently acted for listed companies, their shareholders or directors and securities investors in dealing with inquiries and investigations by regulatory bodies such as the Hong Kong Monetary Authority, the Hong Kong Exchanges and Clearing Limited, and the Securities and Futures Commission of Hong Kong. Besides, Sherman is also a member of the Civil Litigation Committee of the Law Society of Hong Kong with extensive experience in handling and reviewing new laws and regulations related to litigation.

Over the years, Sherman has been giving seminars for various professional bodies, such as Hong Kong Institute of Directors, the Hong Kong Institute of Certified Public Accountants, the Hong Kong Institute of Chartered Secretaries, the Chamber of Hong Kong Listed Companies, the Hong Kong Society of Chinese Auditors and Accountants, and so on. Topics of seminar include “Shareholder disputes for listed companies”, “Insider dealing and SFC investigations”, “Disclosure and insider dealing”, “Regulation of licensed / registered intermediaries” and “Market irregularities and SFC investigations”, etc.

Sherman Yan is also an arbitrator of the South China International Economic and Trade Arbitration Commission (Shenzhen Court of International Arbitration) (SCIA), eligible to act for clients in arbitrations concerning disputes related to international trade.

Academically, Sherman is also a contributor to legal textbooks including “Securities and Futures Ordinance (Cap.571): Commentary and Annotations” and “Tort Law & Practice in Hong Kong”, both published by Sweet & Maxwell.

CPD Hours:

Completed CPD hours will be granted to attendees who have attended a full session of seminar. For those who have not attended full session, the number of CPD hours will be discounted accordingly. For the exact recognition of the CPD hours, please check with the respective Institute or Association.

Bad Weather Arrangement:

This event may be cancelled or re-scheduled when typhoon no.8 or black rainstorm warning is hoisted. Please refer to our website for the arrangement.


The Institute of Accountants in Management (IAM)


Accounting Development Foundation Limited (ADF)

CPD Requirements: Our seminars can fulfil CPD requirements. As professional bodies would not formally endorse the seminars we provide, it does not mean that the events we organize do not meet the CPD purpose. Registrants should note that you are responsible for determining whether our seminars or any event satisfy your CPD requirements i.e. that the training you receive are of appropriate standard and relevance to your maintaining and enhancing the technical knowledge and professional expertise. If necessary, please check with your respective professional body before registering our seminars. ADF does not warrant that the attendance of our seminars or events would automatically be recognized by the respective professional bodies as fulfilling your CPD requirements.


- This seminar will be opened for enrolment on 1 March 2019 at 11:00am. The "Login to Enrol" button is NOT available before 1 March 2019 at 11:00am.

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