Aggregated News From Investment Management Regulators

Unlicensed fund manager sentenced to community service

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The Eastern Magistrates’ Court today sentenced Mr Yau Ka Fai to 240 hours of community service following his conviction for holding himself out as carrying on a business in asset management without a licence from the Securities and Futures Commission (SFC) (Notes 1 & 2).

Between September 2011 and November 2015, Yau, whilst unlicensed by the SFC, represented to investors that he was the manager of a fund known as Tai Chi Hedge Fund and received commission for his service.

End

Notes:

  1. Please see the SFC’s press release dated 6 January 2020.
  2. The case was initially adjourned to 16 January 2020, and subsequently further adjourned to today for sentencing.

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Regulator Information

Abbreviation: SFC
Jurisdiction: Hong Kong

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