HK SFC warns public of unauthorised funding product supplied by “ATG Algorithm Commerce Group”

The Hong Kong Securities and Futures Fee (SFC) as we speak warned the general public of an unauthorised funding product involving a system to spend money on gold contracts for variations named “2023全新智能AI黃金EA自動交易系統”.

The Product has not been authorised by the SFC for providing to the Hong Kong public and is suspected to have breached the Securities and Futures Ordinance (SFO).

The SFC notes that the group of a Telegram group known as “ATG Algorithm Commerce Group” (ATG) operates the Product and promotes it through public accounts or channels of ATG and its group on Telegram and Instagram.

The Product and its associated data had been posted on the SFC’s Suspicious Funding Merchandise Alert Listing on 11 December 2023.

The general public is warned towards investing in any non-SFC authorised funding merchandise. As these merchandise should not regulated by the SFC, their buyers haven’t any or very restricted safety and should lose all their investments.

Investigations are ongoing and the SFC will take all applicable actions the place there’s any breach of the regulation.