We have been involved with several high-profile cases that have required the calculation of complex financial instruments, often involving derivatives, futures and other leveraged structured products.

It is critical to break a product into its constituent parts to determine how it worked – or did not work.  Only then can the less quantitative questions can be reviewed, such as the contemporary market environment, the type of selling process, and the suitability of the client for the product. 

Derivative products tend often to incorporate a large number of separate structured products bundled into a product.  Clients may buy many such products.  It is thus extremely difficult to understand the consolidate position in real time.  Our Experts can break these down to analyse what happened at what particular stage of the process.  The maths pre se often isn’t difficult – it is the complexity of the bundling process that makes it so.

A quantum – or range of quanta – are often required to be derived by the Expert to prove the damages involved.  The calculation of these is an art in itself and only through experience can the right assumptions and methodologies be developed for the Courts to consider.

CASE STUDIES

GOME

A Chinese electronics retailer bought shares from a Director in a relationship that was alleged not to be at arm’s length.

Richard Harris says, “I  refer you to this very successful case where I was appointed by the electronics distributor, GOME, following my original report for the SFC.  I therefore acted for both sides as a Single Expert.  The quantum was agreed by both sides and the damages were paid to the shareholders.  The annual general meeting was a very successful event for all concerned”.

The SFC’s press release regarding this case is available on their website: HERE.

The announcement by GOME to the HK Stock Exchange contains the Independent Expert Witness report and is here (see Appendix II): GOME case settlement with HK SFC 2014

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About Richard

Richard Harris is a pioneer of the Asian Investment Management markets, with nearly 40 years experience. It is 46 years since he first arrived in Asia, within which he has 16 years in Europe. He has global multi-cultural contacts and a long-term financial professional… Learn More

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What People Say…

“He is well versed in financial markets and regulation and a strong presenter and communicator of complex issues.”

– Simon Potter, CEO BoxRED BSP

“Richard has excellent insights into the markets and future trends. A true expert in his field.”

– Steven Freeland, Professor of International Law, Western Sydney University

“(Richard has a) discerning eye for other people’s gifts and talents… and in empowering them to perform at the highest level”

– Nicholas Appel, Principal, Global Metal Sources

“He is a dynamic leader and business builder; held in high regard by his peers.”

– Mark Mullan, Principal Origin8, San Francisco

“He is authoritative, articulate – and has a nice turn of phrase!”

– Bryan Curis, ex Head RTHK English; Bloomberg Radio Asia

“A man of great integrity with a wide network of contacts in Asia.”

– Chris Rollason, MD Stratagem Associates, Asia

“The Expert evidence came from Mr Richard Harris, who was both expert and independent”

– Mr Justic Coomaraswamy – Suit 322 of 2013 Singapore High Court. Public Document

“Richard is one of the most extensively experienced executives in asset and wealth management in Asia”

– Danny Howell, Managing Director, Head of Offshore Wealth