On 2 November 2020, HK SFC publicly censured Ngai Lai Ha and imposed an 18-month cold-shoulder order for breach of mandatory general offer obligation in takeovers code.
- Although the breach was caused by Ngai’s misunderstanding of the operation of the 2% creeper provisions in the code, her conduct merits the current disciplinary action.
- Denied access to the Hong Kong securities market from 2 November 2020 to 1 May 2022.
