SFC Hongkong Suspends Popular Finfluencer, Franky Wong from 19 March 2025 to 18 July 2026

The Securities and Futures Commission (SFC) of Hong Kong has suspended financial influencer Wong Ming Chung, also known as Franky Wong or “股票狙擊手” on social media, for 16 months. Wong, who is a licensed representative of Tses Securities Limited (TSL), will be suspended from 19 March 2025 to 18 July 2026. This follows his criminal conviction for giving investment advice in a paid Telegram group without the proper license.

Christopher Wilson, Executive Director of Enforcement at the SFC, said, “Investors should remain vigilant and exercise caution when availing themselves of information shared by finfluencers. Some finfluencers who provide investment-related content on social media and other online platforms may in fact be conducting regulated activities for which they need to be licensed by the SFC. Finfluencers who are not licensed may not adhere to the SFCs requisite standards of conduct and accountability, and investors may suffer by relying on their advice.”

“Before acting upon an investment advice, investors should ensure that firms and individuals who provide the advice are properly licensed,” Mr Wilson added.

Although Wong held an SFC license, it was only to perform regulated activities on behalf of TSL. Between 2 January 2018 and 21 May 2019, Wong ran the Telegram group and provided investment advice without authorization. The SFC has ruled that Wong is not fit to continue his licensed activities due to his illegal actions.

About SFC

The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong's securities and futures markets. The scope of SFC work includes:

-Setting and enforcing market regulations, including investigating breaches of rules and market misconduct;

-Licensing and supervising intermediaries1 that conduct activities under the SFC's regulatory responsibility;

-Supervising market operators, including exchanges, clearing houses, share registrars and alternative trading platforms, and helping to enhance market infrastructure;

-Authorising investment products and offering documents prior to their distribution to retail investors;

-Exercising oversight of regulations governing takeovers and mergers of public companies and of The Stock Exchange of Hong Kong Limited's regulation of listing matters;

-Cooperating with and providing assistance to local, Mainland and overseas regulatory authorities; and

-Helping investors understand market operations, the risks of investing and their rights and responsibilities.

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