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Pre-trial review fixed for unlicensed dealing prosecution

Issue date: 2024-03-14 20:54:18

The Eastern Magistrates’ Court today set down 23 May 2024 for a pre-trial review of the prosecution brought by the Securities and Futures Commission (SFC) against Ms Lai Ka Yi.

At today’s hearing, Lai pleaded not guilty to a charge of having held herself out as carrying on a business in regulated activity without an SFC licence under the Securities and Futures Ordinance (SFO).

The SFC alleged that between April and May 2018, Lai held herself out to an individual as carrying on a business in dealing in securities in Hong Kong without an SFC licence and reasonable excuse (Note 1).

End

Note:

1. Under Schedule 5 of the SFO, “dealing in securities” is a type of regulated activity. Under sections 114(1)(b) and 114(8) of the SFO, it is an offence for a person, without reasonable excuse, to hold himself out as carrying on a business in a regulated activity without a licence from the SFC.

News captured as of:2024-03-14 20:54:18

Source: SFC