Hong Kong's Securities And Futures Commission: Unlicensed Futures Contract Adviser Given Suspended Jail Sentence

The Eastern Magistrates’ Court today sentenced Mr Gordon Mui Kwong Yin to three months imprisonment, suspended for 12 months, for providing online advice on trading in futures contracts without a licence. 

The Court heard that, between November 2009 and July 2010, Mui, whilst unlicensed, offered to provide trading advice on a website and received approximately $128,700 in subscription fees from 113 clients.  

Mui pleaded guilty on 24 October 2013 and was remanded in jail custody pending today’s sentencing (Note 1).

The Court also ordered Mui to pay the Securities and Futures Commission’s (SFC) investigation costs. 

Note:

1. Please see the SFC’s press release dated 24 October 2013.