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 From Hong Kong's Information Services Department
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August 25, 2005
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Investment

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Unlicensed investment advisor fined
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Pang Yin-har has been fined $5,000 for advising on futures contracts whilst unlicensed. She also has to pay investigation costs of $17,560 to the Securities & Futures Commission.

 

Between August and October 2004, Pang, who was not licensed by the commission, set up a website and invited the public to join. Members had to pay a monthly subscription to have access to Pang's advice on trading in Hang Seng Index options contracts.

 

The provision of such advice by unlicensed people contravenes Securities & Futures Ordinance section 114. Pang today pleaded guilty at Eastern Magistracy.