ICAC statement


In an operation codenamed “Sea Pearl” jointly mounted by the ICAC and the Securities and Futures Commission (SFC) today (July 7), the ICAC arrested a senior executive of a listed company who was suspected to have offered advantages to the staff of an underwriter in the initial public offering (IPO) of the company.

During the joint operation, the ICAC and the SFC searched a number of premises, including the offices of the listed company and one of its IPO underwriters.

The arrestee had been released on ICAC bail. While enquiries are continuing, it is not appropriate for the ICAC to make further comments.

The ICAC will continue to collaborate with relevant regulatory bodies, including the SFC, to jointly combat corrupt and illicit activities in the financial market so as to uphold the integrity of the market, maintain a level playing field for businesses, and sustain Hong Kong’s status as an international financial centre.
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