The Hong Kong court convicted Brilliance Capital Management Limited (BCM) and its director Law Sai Hung in charges brought by the Hong Kong Securities and Futures Commission (SFC) for conducting finance advising services without an SFC licence.
BCM and director Law Sai Hung were fined a total of $30,000 and ordered to pay the SFC’s investigation costs.
The court discovered that in January 2013 BCM presented itself as a finance services company and advised on listing application, by entering into an Advisor Engagement Agreement while being unlicensed.
The Hong Kong court also found that Law Sai Hung assisted and counselled in the licensing violations in his capacity as a director.
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