According to Wu Shuo, the Eastern Magistrates' Court in Hong Kong found Wong Ming-chung guilty of providing investment advice in a Telegram subscription chat group he established and managed without a license in a case brought by the SFC. Wong Ming-chung admitted to operating a business of providing advice on securities without a license and was fined $10,000 and ordered to pay the SFC's investigation costs. Although Wong Ming-chung is a licensed representative of the SFC, he can only act for the company he is affiliated with. In this incident, Wong Ming-chung operated the Telegram chat group in his personal capacity to post comments on the performance of the Hang Seng Index and various Hong Kong-listed securities and respond to subscriber questions.