The Hong Kong Securities and Futures Commission (SFC) announced that the Court of First Instance dismissed Ms Lai Ka Yi’s appeal against her conviction and sentence for an unlicensed activity offence arising from an SFC prosecution. Lai began serving a two-week prison sentence immediately following the unsuccessful appeal. The Eastern Magistrates’ Court had sentenced Lai to two weeks’ imprisonment on 30 October 2024 and ordered her to pay HKD 98,000 in compensation to a victim after convicting her of holding herself out as carrying on a business in dealing in securities without an SFC licence. Lai appealed both conviction and sentence and had been granted bail pending the appeal. The SFC also reminded investors to verify whether securities dealing service providers are properly licensed by checking the SFC’s Public Register of Licensed Persons and Registered Institutions. The conviction followed trial for an offence under sections 114(1)(b) and 114(8) of the Securities and Futures Ordinance, and the Court’s judgment is expected to be available on the Judiciary’s website (HCMA 459/2024).
Hong Kong Securities & Futures Commission 2025-05-15
Hong Kong Securities and Futures Commission reports Court of First Instance dismissal of appeal in unlicensed securities dealing case
The Hong Kong Securities and Futures Commission (SFC) announced that the Court of First Instance dismissed Ms Lai Ka Yi’s appeal against her conviction and sentence for unlicensed securities dealing. Lai began serving a two-week prison sentence and was ordered to pay HKD 98,000 in compensation. The SFC reminded investors to verify the licensing status of securities service providers via its Public Register.