Market Misconduct Tribunal
From Wikipedia, the free encyclopedia
| Market Misconduct Tribunal | |
|---|---|
| Established | 2003 |
| Jurisdiction |  Hong Kong |
| Location | Hong Kong |
| Appeals to | Court of Appeal |
| Website | http://www.mmt.gov.hk |
| Market Misconduct Tribunal | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Traditional Chinese | 市場失當行為審裁處 | ||||||||||
| Simplified Chinese | 市场失当行为审裁处 | ||||||||||
| |||||||||||
The Market Misconduct Tribunal (Chinese: 市場失當行為審裁處) is an independent body in Hong Kong which is established under the Securities and Futures Ordinance (Cap. 571) (SFO), and is chaired by a judge or former judge of the High Court who sits with two members.
The Market Misconduct Tribunal (MMT) was established in 2003 under the provisions contained in the SFO. In accordance with the SFO, if it appears to the Securities and Futures Commission (SFC) that market misconduct or a breach of a disclosure requirement under Part XIVA of the SFO has or may have taken place, the SFC may institute proceedings before the MMT. The MMT has jurisdiction to hear and determine any question or issue arising out of or in connection with the proceedings instituted under the SFO.
Market misconduct includes insider dealing, false trading, price rigging, stock market manipulation, disclosure of information about prohibited transactions and disclosure of false or misleading information inducing transactions in securities and futures contracts. Such conduct is detrimental to the interests of investors and damages the reputation of Hong Kong as an international financial centre. In accordance with the SFO, if it appears to the SFC that market misconduct or a breach of a disclosure requirement under Part XIVA of the SFO has or may have taken place, the SFC may institute proceedings before the MMT. The MMT conducts civil proceedings and, where appropriate, imposes civil sanctions against those it determines to be wrongdoers. It helps promote market confidence by protecting the interests of the investing public and reducing market malpractice.[1]
