The Securities and Futures Commission of Hong Kong ("SFC") has banned Ivan Chan Chuk Cheung, a former officer in charge of Cheung Kong Corporate Finance (Hong Kong) Limited ("Cheung Kong Finance"), from re-entering the industry within seven years from 10 October 2023 to 9 October 2030.。

The regulator made the decision as Ivan Chan Chuk Cheung failed to fulfil his regulatory duties as the principal head of the sponsor, responsible for five listing applications.。

Earlier, CJCF was disciplined for serious and widespread failure to perform its sponsor duties in six listing applications, including five listing applications.。The five listing applications involve PCL Resources Holdings Limited, Eternal Dynamics Holdings Limited, Wanquan International (Cayman) Limited, Rising Sun Construction Holdings Limited and Byleasing Holdings Limited.。

The SFC believes that the negligence of CJCF, as the sole sponsor of five listing applications, can be attributed to Ivan Chan Chuk Cheung's negligence.。

Specifically, Ivan Chan Chuk Cheung, while acting as sponsor, failed to:

a.handle the five listing applications with due skill, care and diligence;

b.diligently supervise the execution of the sponsor's work by the trading team; and

c.Ensure CJCF maintains appropriate standards of conduct。

In determining the disciplinary sanctions, the SFC has taken into account all relevant factors, including the seriousness of Ivan Chan Chuk Cheung's default as the sponsor's principal and the fact that he has no other disciplinary record with the SFC.。