According to a press release on 20 Jun 2024, the Eastern Magistrates’ Court convicted Mr Wong Ming Chung for providing investment advice on a subscription-based chat group on Telegram he hosted without a licence in a prosecution brought by the Securities and Futures Commission (SFC). Wong pleaded guilty to a charge of carrying on a business of advising on securities when he was not licensed to do so and was fined $10,000. He was also ordered to pay the SFC’s investigation costs.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR110