Page 58 - 期货和衍生品行业监管动态（2023年11月刊）
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期货和衍生品行业监管动态
法官屈丽雯女士在裁定蔡及马的罪名不成立时，认为控方未能在无合理怀疑
的情况下证明蔡曾经营操作有关期货帐户的业务。法官在考虑帐户持有人所提供
的证据后，无法排除蔡操作有关帐户乃出于自愿而非为求利的可能性。
SFC 现正检视有关裁定。
注：
1. 蔡及马被控以《证券及期货条例》第 114 条所订的罪行。请参阅证监会
2022 年 9 月 8 日的新闻稿。
2. 马在关键时间根据《证券及期货条例》获发牌进行第 2 类（期货合约交
易）受规管活动，并隶属于灏天环球投资有限公司（现称为 Nerico Brothers
Limited）。马现时并非 SFC 持牌人。
Court Acquits Duo of Unlicensed Activities (2023/11/20)
The Eastern Magistrates’ Court has acquitted Mr Tony Choi Yick Man after
finding him not guilty of carrying on a business in asset management without a licence
from the Securities and Futures Commission (SFC). The court also acquitted Mr Ma
Yau Tim after ruling he was not guilty of aiding and abetting Choi’s unlicensed
activities (Note 1).
The SFC alleged that Choi, who had never been licensed by the SFC, operated
futures accounts of four individuals or entities on a discretionary basis between 2010
and 2019 in the hope of sharing profits. Ma, a then account executive at Glory Sky
Global Markets Limited who handled three of the accounts, rendered active assistance
in Choi’s unlicensed activities knowing that Choi was not licensed by the SFC (Note
2).
In deciding to acquit Choi and Ma, Magistrate Miss Minnie Wat Lai Man was of
the view that the prosecution had not proved beyond reasonable doubt that Choi was
carrying on a business in operating the futures accounts. Considering the evidence
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