Hong Kong SFC Issues Warning of Unauthorized Gold Investment CFD Products EAsyGOld Trend & EAsyGOld Plus, Using Telegram & Instagram to Promote Investment Products with 40% to 80% Monthly Returns
22nd December 2023 | Hong Kong
The Hong Kong Securities & Futures Commission (SFC) has issued a warning of unauthorized gold investment CFD products (Contract for difference) EAsyGOld Trend & EAsyGOld Plus, with the operator using Telegram & Instagram to promote the investment products with 40% to 80% monthly returns. Hong Kong SFC: “The Securities and Futures Commission (SFC) today warned the public of an unauthorised investment product involving automatic trading systems which invest in gold contracts for differences named “EAsyGOld TrendTM” and “EAsyGOld PlusTM” (collectively as the Product). The Product has not been authorised by the SFC for offering to the Hong Kong public and is suspected to have breached the Securities and Futures Ordinance (SFO) (Notes 1 and 2). The SFC notes that a team which manages a Telegram group called “EAsyGOld自來金” (https://t.me/easygogold) and an Instagram public account (https://www.instagram.com/easygold_hk) operates and promotes the Product with very high monthly return targets of 40%-80% via public accounts or channels on Telegram and Instagram. The team of EAsyGOld自來金 has also set up another Telegram account (https://t.me/EAsyGOld_Admin) to solicit investments in the Product. The Product and its related information were posted on the SFC’s Suspicious Investment Products Alert List on 21 December 2023.” More info below:
“ Hong Kong SFC Issues Warning of Unauthorized Gold Investment CFD Products EAsyGOld Trend & EAsyGOld Plus, Using Telegram & Instagram to Promote Investment Products with 40% to 80% Monthly Returns “
Hong Kong SFC Issues Warning of Unauthorized Gold Investment CFD Products EAsyGOld Trend & EAsyGOld Plus
21st December 2023 – The Securities and Futures Commission (SFC) today warned the public of an unauthorised investment product involving automatic trading systems which invest in gold contracts for differences named “EAsyGOld TrendTM” and “EAsyGOld PlusTM” (collectively as the Product). The Product has not been authorised by the SFC for offering to the Hong Kong public and is suspected to have breached the Securities and Futures Ordinance (SFO) (Notes 1 and 2).
- The SFC notes that a team which manages a Telegram group called “EAsyGOld自來金” (https://t.me/easygogold) and an Instagram public account (https://www.instagram.com/easygold_hk) operates and promotes the Product with very high monthly return targets of 40%-80% via public accounts or channels on Telegram and Instagram. The team of EAsyGOld自來金 has also set up another Telegram account (https://t.me/EAsyGOld_Admin) to solicit investments in the Product. The Product and its related information were posted on the SFC’s Suspicious Investment Products Alert List on 21 December 2023.
- The public is warned against investing in any non-SFC authorised investment products. As these products are not regulated by the SFC, their investors have no or very limited protection and may lose all their investments. The SFC takes this opportunity to warn investors again to be cautious and skeptical about investment opportunities that seem “too good to be true” and to stay vigilant when making investment decisions.
Investigations are ongoing and the SFC will take all appropriate actions where there is any breach of the law.
Notes:
- The Product displays characteristics of a collective investment scheme (CIS) as defined in section 1 of Part 1 of Schedule 1 to the SFO. It is an offence under section 103 of the SFO for a person to issue, whether in Hong Kong or elsewhere, an advertisement, invitation or document which is or contains an invitation to the Hong Kong public to acquire an interest in or participate in a CIS, unless the SFC has authorised the issue or an exemption applies. In general, CIS must be sold by an intermediary licensed by or registered with the SFC. Unauthorised CIS may generally be sold to professional investors only.
- It is an offence under section 114 of the SFO for a person to carry on, or hold himself out as carrying on, a business in a regulated activity (which will include promoting interests in a CIS) without a licence where required. It is also an offence under section 115 of the SFO for a person to actively market, whether in Hong Kong or from a place outside Hong Kong, to the Hong Kong public any services that the person provides and such services, if provided in Hong Kong, would constitute a regulated activity.
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- June 2024 - Hong Kong
- June 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Investment Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
