Jockey Zac Purton has been fined $40,000 by the Hong Kong Jockey Club for failing to report that a notorious punter had aproached him for betting tips.

Purton was cleared of any involvement by stewards.

The jockey had originally agreed to meet Peter Fung for coffee and was expecting to be introduced to an owner through Fung.

However his brother Cosma Fung turned up instead, who offered him money for tips. Cosma had previously been jailed for 21 months for his involvement in Australian jockey Chris Munce's tips-for-betting saga.

Purton refused and had no further contact with Fung. He said he did not report Fung to stewards as he felt he should 'walk away from him as best I could'.

Neither Cosma Fung or his brother attended the inquiry and are expected to be warned off racecouses in future.

Purton's licence should remain to ride in Hong Kong next season.