2 Jun 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 First Instance
- Case number
- HCMA288/2015
Section 114(1)(b) of the SFO is a regulatory offence in respect of which the presumption of mens rea is displaced and liability is subject to the statutory defence of reasonable excuse; on the evidence the magistrate was entitled to find A1 held itself out as carrying on advisory business and A2, as directing mind of A1, was properly convicted under s390; credibility and contractual construction findings were open to the magistrate and are not overturned on appeal.