ChainCatcher news, according to the official announcement of the Hong Kong Securities and Futures Commission, the Eastern District Magistrates’ Court today ruled in a prosecution case filed by the Securities and Futures Commission (SFC) that Huang Mingzhong (male) did not have a license to establish and merge in Telegram. Convicted of providing investment advice in a subscription-based chat group he moderated.

Wong pleaded guilty to a charge of operating an unlicensed business of advising on securities and was fined $10,000. The Hong Kong Securities and Futures Commission reminds investors to check the public register of licensed persons and registered institutions on the SFC website before investing to ensure that companies and persons providing investment advice on securities have obtained appropriate licenses.