14 Nov 2016
SECURITIES AND FUTURES COMMISSION v. C.L. MANAGEMENT SERVICES LTD AND ANOTHER
- Citation
- SECURITIES AND FUTURES COMMISSION v. C.L. MANAGEMENT SERVICES LTD AND ANOTHER
- Court
- Court of Final Appeal
- Case number
- FAMC34/2016
The contracts entered into and executed by CLMS on the applicants' behalf unequivocally constituted holding out to carry on the regulated activity of advising on corporate finance in contravention of s114(1)(a) SFO; the acts were intentional, there was no reasonable excuse, and Ms Au, as sole director and shareholder, intentionally caused and is liable under s390, so there was no arguable ground for granting leave to appeal.