Hong Kong Securities and Futures Commission: Court rules that someone was guilty of providing paid investment advice without a license in a Telegram chat group

ChainCatcher news, according to an official announcement from the Hong Kong Securities and Futures Commission (SFC), the Eastern Magistrates' Court today ruled that Wong Ming Chung (male) was guilty of providing investment advice in a subscription-based chat group he created and managed on Telegram without holding a license.

Wong admitted to the charge of operating a business providing advice on securities without a license and was fined 10,000 HKD. The Hong Kong SFC reminds investors to check the public register of licensed persons and registered institutions on the SFC website before investing, to ensure that companies and individuals providing investment advice on securities hold the appropriate licenses.