MMT finds company and its officers in breach of disclosure requirements for late announcement of resignation of auditors

The Market Misconduct Tribunal (“MMT”) found Mayer Holdings Limited (“Mayer”) and nine of its current and former executives, comprising the chairman, members of its board and its financial controller, in breach of the disclosure requirements under Part XIVA of the Securities and Futures Ordinance (“SFO”). The breach concerned the disclosure of the resignation of Mayers’ auditors which was made three weeks late.

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