The Securities and Futures Commission of Hong Kong (SFC) has initiated legal proceedings to request the Court of First Instance to investigate AMTD Global Markets Limited (AMTD, now known as Oriental XYZ Securities Limited) and its former executives for non-compliance with the SFC notice in an initial public offering (IPO) related investigation.。

The SFC's investigation relates to the alleged use of fraudulent or deceptive means and / or disclosure of false or misleading information in the initial public offerings of certain listed companies in which AMTD is involved as a bookkeeping manager, lead manager and underwriter.。

AMTD's former executives include Lo Chi Hang, a former responsible officer, Philip Yau Wai Man, a former director and managing director, and See Hiu Lun, a former emergency liaison and complaints officer.。

The regulator issued a notice to the AMTD requesting records relating to, among other things, the AMTD's work in these IPOs。However, AMTD has not fully complied with these notices。

After the SFC issued a notice of meeting to the AMTD, the company's former executive did not attend the meeting as required。

If, after an inquiry, the court is satisfied that AMTD and the company's former executive did not comply with the SFC's notice without reasonable excuse, it may order AMTD to produce the specified records and order the company's former executive to attend the meeting, and may punish the company's former executive for contempt of court。