1 Dual-track enforcement and improper trading
Classify the conduct first, then determine the enforcement route and available orders.
The dual-track regime
SFO Parts XIII and XIV- The same conduct by the same person may proceed through the civil MMT route or criminal prosecution, but not both as duplicate proceedings. Compare
- The MMT may make cold-shoulder, disqualification and disgorgement orders, but cannot impose imprisonment. Trap
- An affected person may pursue private damages where fair, just and reasonable; not every civil right must wait for MMT proceedings to finish. Exam
一秒排錯
If an option mentions imprisonment, ask whether the question concerns the MMT or a criminal court.
Improper trading practices
Code of Conduct / SFO- Churning means excessive trading beyond the client's objectives and needs to generate commission. Definition
- Unauthorised trading does not automatically become compliant because it made a profit or received later oral approval. Trap
- Unsolicited immediately interactive selling must be distinguished from non-immediate communication; phone/in-person contact is not treated identically to ordinary email. Compare
記憶方法
Define each improper practice as conduct plus purpose or missing authority, rather than memorising the English label alone.
