Hong Kong's Securities And Futures Commission: {X} Convicted Of Unlicensed Dealing In Securities And Futures Contracts

The Eastern Magistracy today convicted Mr {X} of unlicensed dealing in securities and futures contracts.

{X} pleaded guilty to two summonses and was fined a total of $10,000. He was also ordered to pay investigation costs of $9,105 to the SFC.

{X} was prosecuted by the SFC after an investigation revealed that {X}, who was not licensed by the SFC in any capacity, carried on a business in dealing in securities from April to October 2005, and in futures contracts from May 2005 to June 2007 and received commission on profits earned from these dealings. The activities in question were in breach of section 114 of the Securities and Futures Ordinance.

The SFC reminds investors not to deal with unlicensed firms or people in order to protect their own interests. Investors can check if a firm or person is licensed on the SFC website.

Note: The names of certain individuals in this press release have been masked because they satisfy the criteria set out under the Rehabilitation of Offenders Ordinance.