Wah Fu director fined

The Securities and Futures Commission has prosecuted Wah Fu International Holdings director Kenneth Lam Kin-hing for contravening the Securities (Disclosure of Interests) Ordinance. The SFC found Mr Lam, who held 42.32 million or 1.34 per cent of Wah Fu shares on September 17 last year, failed to notify Hong Kong Exchanges and Clearing within five days of the transaction. His written notification was delayed for 76 days, the SFC said. Magistrate Polly Lo in Western District Court fined Lam HK$10,000 and ordered him to pay HK$12,504 in costs to the SFC.