30th October 2024 – A Hong Kong court has sentenced an ex-university student Lai Ka Yi to 2 weeks in jail and to pay $12,600 (HKD 98,000) compensation to a victim for operating business in dealing with securities without a Hong Kong SFC licence (Securities & Futures Commission) in 2018. Hong Kong SFC (30/10/24): "The Eastern Magistrates' Court today sentenced Ms Lai Ka Yi to two weeks' imprisonment and ordered her to pay a sum of $98,000 as compensation to a victim of her unlicensed activity after she was convicted of holding herself out as carrying on a business in dealing in securities without a licence from the Securities and Futures Commission (SFC). This is the first time the Court has imposed an immediate jail sentence for an unlicensed activity offence under section 114 of the SFO with a compensation order in a prosecution brought by the SFC (Notes 1 and 2). Lai was also ordered to pay the SFC's investigation costs.