The Hong Kong Securities and Futures Commission has suspended Wong Ming Chung, a finfluencer known as Franky Wong and a licensed representative of Tse’s Securities Limited, for 16 months after his criminal conviction for providing investment advice through a subscription-based Telegram chat group without a licence. The suspension runs from 19 March 2025 to 18 July 2026. Although Wong was licensed for Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities, the SFC found he operated the Telegram group in his personal capacity between 2 January 2018 and 21 May 2019, outside the scope of acting for his accredited firm. The SFC concluded he was not fit and proper to remain licensed given the conviction, and noted his cooperation in resolving its concerns. Wong was convicted on 20 June 2024 in the Eastern Magistrates’ Court after pleading guilty to carrying on a business of advising on securities when not licensed to do so, and was fined HKD 10,000 and ordered to pay the SFC’s investigation costs.
Hong Kong Securities & Futures Commission 2025-03-20
Hong Kong Securities and Futures Commission suspends finfluencer Franky Wong for 16 months for unlicensed investment advice via Telegram
The Hong Kong Securities and Futures Commission has suspended Wong Ming Chung, also known as Franky Wong, for 16 months following his criminal conviction for providing unlicensed investment advice via a Telegram group. Despite being licensed for dealing in and advising on securities, Wong operated the group outside his accredited firm's scope. He was fined HKD 10,000 and ordered to pay investigation costs after pleading guilty.