SFC Announces 16-Month Suspension for Finfluencer Franky Wong

The Securities and Futures Commission of Hong Kong (SFC) has announced the suspension of financial influencer (finfluencer) Wong Ming Chung, popularly known as Franky Wong and also “股票狙擊手” on social media, for a period of 16 months. Wong, a licensed representative of Tse’s Securities Limited (TSL), faces suspension from 19 March 2025 to 18 July 2026 following his criminal conviction for providing investment advice on a subscription-based chat group on Telegram he hosted without a license. 

Wong, despite holding an SFC license, was only authorized to conduct regulated activities on behalf of TSL. However, between 2 January 2018 and 21 May 2019, Wong personally operated the Telegram chat group, offering investment advice without proper authorization. The SFC has deemed Wong unfit to remain licensed to carry on regulated activities due to his criminal conduct.

Commenting on the case, 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 SFC’s 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.