The Insider Dealing Tribunal has concluded the hearings for determining the profit gained by the 11 insider dealers in the inquiry concerning the listed securities of Vanda Systems & Communications Holdings.

The inquiry was conducted pursuant to a notice and a corrigendum served by the Financial Secretary in October 2003 and June 2005. The tribunal completed its inquiry and submitted a report to the Financial Secretary last November, concluding that 11 implicated parties had committed insider dealing. Click here to view the report.

The tribunal then conducted hearings in January to deal with issues relating to profit gained, financial penalties, and the orders to be made. After the hearing, the tribunal made orders against the 11 insider dealers. More details are available here.

A report on the penalty and consequential orders of the tribunal has been submitted to the Financial Secretary and distributed to all concerned parties.