In HCMA 459/2024, Parkside Chambers’ Jonathan Ah-weng acted for the Securities and Futures Commission and was led by Vinci Lam SC. This matter involved the Defendant’s appeal against both conviction and sentence following a trial where Jonathan had previously acted as sole counsel.
View the link for that case here: https://lnkd.in/gkNdqdGK
The Defendant was convicted of holding out as carrying on a business in securities trading without a licence, contrary to s.114(1)(b) of the Securities and Futures Ordinance (Cap. 571). The Magistrate imposed a term of imprisonment — the first of its kind for this offence.
On appeal, the High Court dismissed the appeal in full, affirming both the conviction and the custodial sentence. The Court recognised the growing seriousness of unlicensed securities activities and endorsed the importance of deterrent sentencing. It also accepted the position that the CFA’s decision in Lee Yi Shing was of limited relevance to s.114(1)(b) offences.
This decision reinforces the importance of compliance in financial markets and underscores the courts’ readiness to impose serious consequences for unlicensed activities.
In HCMA 459/2024, Parkside Chambers’ Jonathan Ah-weng acted for the Securities and Futures Commission and was led by Vinci Lam SC. This matter involved the Defendant’s appeal against both conviction and sentence following a trial where Jonathan had previously acted as sole counsel.
View the link for that case here: https://lnkd.in/gkNdqdGK
The Defendant was convicted of holding out as carrying on a business in securities trading without a licence, contrary to s.114(1)(b) of the Securities and Futures Ordinance (Cap. 571). The Magistrate imposed a term of imprisonment — the first of its kind for this offence.
On appeal, the High Court dismissed the appeal in full, affirming both the conviction and the custodial sentence. The Court recognised the growing seriousness of unlicensed securities activities and endorsed the importance of deterrent sentencing. It also accepted the position that the CFA’s decision in Lee Yi Shing was of limited relevance to s.114(1)(b) offences.
This decision reinforces the importance of compliance in financial markets and underscores the courts’ readiness to impose serious consequences for unlicensed activities.
