SFC alerts the public of unauthorised investment schemes

Compliance updates

The investment arrangements included in this alert list have come to the SFC’s attention through enquiries or complaints. They display certain characteristics of a “collective investment scheme”(CIS) as defined under the Securities and Futures Ordinance (SFO). As they are not authorised by the SFC, they may not be offered to the Hong Kong public.

This list is not exhaustive and may be updated from time to time as new information becomes available.

CIS offered to the Hong Kong public are subject to SFC authorisation under the SFO, unless exempted. In general, CIS must be sold by an intermediary licensed or registered with the SFC. Unauthorised CIS may generally be sold to professional investors only.

Investors should exercise extreme caution if they plan to invest in any non-SFC authorised CIS. They may suffer significant or even total losses in such investments.

This list may include different types of suspected unauthorised CIS arrangements, such as those involving real estate, digital tokens and initial coin offerings (ICO). Where a CIS involves overseas properties and scheme operators, the authorities in Hong Kong, including the SFC, may not be able to offer legal or regulatory assistance.

Name/ descriptionLocationType Add date
@RLiS_house NambaOsaka, JapanReal property related30 August 2021
LABS Security TokenN/ADigital Token30 August 2021 
The ElementManchester, UKReal property related30 August 2021
Suspected Unauthorised CIS Alert List

List of publicly offered investment products