Pre-trial review fixed for prosecution of unlicensed advising on securities by finfluencer

The Eastern Magistrates’ Court today set down 24 July 2025 for a pre-trial review of the prosecution brought by the Securities and Futures Commission (SFC) against Mr Chau Pak Yin (previously known as Chau Kin Hei), a finfluencer after he pleaded not guilty to advising on securities without a licence under the Securities and Futures Ordinance (SFO) (Notes 1 and 2).

The SFC alleged that between 16 April 2021 and 14 May 2021, Chau, by hosting a chat group on Telegram, carried on a business of advising on securities in Hong Kong without an SFC licence and without reasonable excuse.

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Notes:

1. Finfluencers, or financial influencers, are individuals who leverage social media platforms to share investment-related content. Chau was known as “Futu大股東” or “富途大股東” on social media platforms.

2. Under Schedule 5 of the SFO, “advising on securities” is a type of regulated activity under the SFO. Under sections 114(1)(a) and 114(8) of the SFO, it is an offence for a person, without reasonable excuse, to carry on a business in a regulated activity without a licence from the SFC.