Core Viewpoint - The Hong Kong Securities and Futures Commission (SFC) has obtained a court order requiring former directors of Yu Cheng Gold Holdings Limited to pay HKD 57.5 million in compensation due to financial losses incurred from improper handling of the acquisition and sale of shares in Liao's Group Limited [1][2]. Group 1: Court Rulings and Penalties - The court ruled that former non-executive director Liao Junlun and former managing director Xu Guangxi must pay the compensation for their roles in the transactions that led to significant losses for Yu Cheng Gold [1][2]. - Liao and Xu are prohibited from serving as directors of Yu Cheng Gold and any other corporations for periods of eight and six years, respectively, due to the severity of their misconduct [1]. - Seven other former executive directors and independent non-executive directors have also had their directorships revoked for one to two years and are required to pay legal costs to the SFC [1][2]. Group 2: Legal Proceedings and Responsibilities - The SFC initiated legal proceedings in October 2016 under Section 214 of the Securities and Futures Ordinance, alleging that the directors violated their duties, resulting in substantial losses for Yu Cheng Gold [2]. - The court found that all involved directors had operated the business in a manner that oppressed the company, leading to unfair detriment and misconduct [2]. - The SFC emphasized that all directors, whether executive or non-executive, share equal legal responsibilities in managing the company's affairs and must safeguard shareholder interests [2][3]. Group 3: Regulatory Implications - The SFC welcomed the court's decision, highlighting its commitment to maintaining high standards of corporate governance and individual accountability [3]. - The ruling serves as a clear message that negligence in fulfilling fiduciary duties will result in accountability for all directors [3]. - The SFC reiterated its determination to take decisive action to protect investors and uphold market integrity [3].

智通财经APP获悉，香港证监会在原讼法庭取得命令，要求裕承科金有限公司(裕承科金(00279)，在关 键时间名为民丰企业控股有限公司)前非执行董事廖骏伦(男)及前董事总经理许广熙(男)向该公司支付 5750万港元的赔偿，原因是他们在收购及出售廖氏集团有限公司(廖氏集团)股权一事上导致该公司蒙受 财务损失。 此外，廖及许未经法庭许可，不得担任裕承科金及任何其他法团的董事，及不得以任何方式关涉或参与 该等法团的管理，分别为期八年及六年。特别是，法庭裁定廖的失当行为最为严重，而许亦在上述交易 中担当主要角色。 裕承科金另外七名前任执行董事及独立非执行董事，即卢更新(男)、柯淑仪(女)、孙益麟(男)、Scott Allen Phillips(男)、Agustin V Que(男)、Gary Drew Douglas(男)及Peter Temple Whitelam(男)，被法庭取消 董事资格，为期一年至两年不等。他们与廖及许亦被饬令向香港证监会支付讼费。 香港证监会于2016年10月根据《证券及期货条例》第214条展开法律程序，寻求对他们作出法庭命令， 指他们在涉及于2011年收购及随后数月内出售廖氏集团股权一事上违 ...