SFC Freezes HK$4.3M Assets in Insider Dealing Case

SFC HK Enforcement News

Filed February 24th, 2026

Detected March 18th, 2026

Summary

The Securities and Futures Commission (SFC) of Hong Kong has obtained worldwide court orders to freeze assets totaling HK$4.3 million in an insider dealing case. The action targets a former HKEX staff member and his relatives, alleging access to and trading on confidential information.

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What changed

The Securities and Futures Commission (SFC) Hong Kong has secured worldwide interim injunction orders in Hong Kong and England and Wales to freeze assets up to HK$4.3 million belonging to Mr Chan Ching Wa, a former HKEX staff member, and his relatives Mr Lam Cho Man and Mr Chau Chi Kwong. The SFC alleges that Chan gained access to confidential, price-sensitive information about at least seven Hong Kong-listed companies during his tenure and used this information to trade shares through accounts held by Lam and disclosed to Chau. The orders prohibit the suspects from disposing of or diminishing their assets in Hong Kong and overseas.

This enforcement action highlights the SFC's commitment to pursuing market misconduct even when suspects have left Hong Kong and moved assets abroad. Regulated entities should be aware of the SFC's extensive powers and international cooperation in combating insider dealing. The interim orders remain in force until scheduled hearings on February 27, 2026 (HK Order) and March 6, 2026 (UK Order).

What to do next

Review internal controls for access to price-sensitive information.
Ensure compliance with insider dealing regulations in all jurisdictions of operation.
Cooperate fully with regulatory investigations if requested.

Penalties

Assets frozen up to HK$3,709,566 for Chan and Lam, and HK$604,545 for Chau.

Source document (simplified)

SFC obtains worldwide court orders in Hong Kong and England and Wales to freeze suspects’ assets up to HK$4.3 million in alleged insider dealing

24 Feb 2026

The Court of First Instance of Hong Kong has granted the Securities and Futures Commission (SFC) a worldwide interim injunction order (HK Order) in legal proceedings against Mr Chan Ching Wa, a former staff of the Hong Kong Exchange and Clearing Limited (HKEX), and his extended relatives, Mr Lam Cho Man and Mr Chau Chi Kwong, for alleged insider dealing in the shares of at least seven Hong Kong-listed companies (Notes 1 to 3).

In parallel, the SFC has commenced first-of-its-kind proceedings in England and Wales and obtained an interim injunction order from the High Court of Justice Business and Property Courts of England and Wales (UK Order) to freeze the assets of Chan and Chau in England and Wales. The UK Order obtained by the SFC would ensure that there are assets left to meet any future reliefs granted by the Court as the three suspects have left Hong Kong and transferred their assets outside of Hong Kong.

The SFC alleges that between 3 June 2020 and 5 March 2025, Chan gained access to confidential and price-sensitive information about various Hong Kong-listed companies prior to their public announcements during his tenure as an Assistant Vice President of the Listing Division of HKEX (Note 4). Chan allegedly used the information to trade shares of Hong Kong-listed companies through securities accounts held by Lam by procuring him to trade the shares on his behalf and/or counselling him to trade them. Lam also allegedly disclosed to Chau inside information that Chan passed onto him, and Chau subsequently traded the relevant shares.

The HK Order and the UK Order (Orders) prohibit the three suspects from disposing of or diminishing the value of their assets in Hong Kong and overseas (including England and Wales), up to the total values of HK$3,709,566 for Chan and Lam and HK$604,545 for Chau.

The Orders will remain in force until the next scheduled hearings on 27 February 2026 regarding the HK Order and 6 March 2026 regarding the UK Order.

This legal action underscored the SFC’s determination to hold market wrongdoers accountable for their misconduct, even if they are not in Hong Kong. The SFC will continue to exercise the panoply of legal powers at its disposal to protect market participants and uphold the integrity of Hong Kong’s securities markets.

HKEX has rendered full assistance to the SFC in this case.

End

Notes:

The SFC commenced the legal proceedings in the Court of First Instance under section 213 of the Securities and Futures Ordinance and obtained the HK Order on 12 February 2026.
Chan's wife is Chau's younger sister, while Chau's elder sister is Lam's wife.
The SFC’s ongoing investigation concerns 24 listed companies. The seven companies that are subject to the present application are Jinmao Hotel and Jinmao (China) Hotel Investments and Management Limited (Stock code: 6139), SOHO China Limited (Stock code: 0410), Beijing Capital Land Limited (Stock code: 2868), Lifestyle International Holdings Limited (Stock code: 1212), Get Nice Financial Group Limited (Stock code: 1469), Ping An Healthcare and Technology Company Limited (Stock code: 1833) and ENN Energy Holdings Limited (Stock code: 2688).
Chan worked in the Listing Regulation and Enforcement Department at the material time.

Page last updated 24 Feb 2026