Licence applicant convicted of providing false information to SFC

11 May 2018



The Eastern Magistrates’ Court convicted Mr Lui Ho Yeung after he pleaded guilty to two counts of making false or misleading representations in support of his licence applications to the Securities and Futures Commission (SFC).

Lui failed to disclose his previous criminal conviction in his SFC licence applications in 2009 and 2015 respectively.  He was fined $12,000 and also ordered to pay the SFC’s investigation costs (Note 1).

The SFC expects applicants to make complete, true and correct disclosure of all information submitted with any licence application.  Failure to do so may affect their fitness and properness to be licensed.

End

Note:

  1. Under section 383 of the Securities and Futures Ordinance, a person commits an offence if he in a licensing application makes a representation that is false or misleading in a material particular and he knows that or is reckless about that.

    Applicants are required to disclose prior criminal convictions including those to which the Rehabilitation of Offenders Ordinance applies. 

 



Page last updated : 11 May 2018