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The Eastern Magistracy has fined William Zee $10,000 for unlicensed dealing in securities and futures contracts. He must also pay investigation costs of $9,105 to the Securities & Futures Commission.
Zee, who was not licensed by the commission, ran a business dealing in securities from April to October 2005, and in futures contracts from May 2005 to June 2007, and received commission on profits earned from these dealings.
Investors are advised to protect their interests and not deal with unlicensed firms or people. They can check if a firm or person is licensed on the commission's website.
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