Hong Kong’s Securities and Exchange Commission (SFC) today warned the public about an unapproved investment product involving an investment scheme in gold contracts for differences called ‘2023Brand new intelligenceAll includedgoldEAAutomated trading system”.
The Product has not been approved by the SFC for offer to the Hong Kong public and is suspected of being in breach of the Capital Markets and Futures Ordinance (SFO).
The SFC notes that the group of a Telegram group called “ATG Algorithm Trade Group” (ATG) manages the Product and promotes it through public accounts or channels of ATG and its group on Telegram and Instagram.
The Product and its related information were published on the SFC’s Suspicious Investment Product Alert List on 11 December 2023.
The public is cautioned not to invest in investment products that are not approved by the SFC. As these products are not regulated by the SFC, their investors have no or very limited protection and may lose all their investments.
Investigations are ongoing and the SFC will take all necessary action where there is any breach of the law.