SFC warns public of Alpha Advice’s unauthorised advertisements of investment product on Facebook

The Securities and Futures Commission (SFC) has issued a warning about Facebook advertisements for a suspicious investment product, “Litigation Asset-Backed Notes” or “90-Day Notes,” targeting Hong Kong investors. The SFC did not authorize these ads, which may violate the Securities and Futures Ordinance (SFO) and the Companies (Winding Up and Miscellaneous Provisions) Ordinance (CWUMPO). The products have been added to the SFC’s Suspicious Investment Products Alert List. The SFC advises the public to avoid investing in unapproved securities and to be cautious of “too-good-to-be-true” opportunities, promising to take action if the law is breached.

Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR213