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Ver.1 (2026.02)
Financial & Investment Advertising Guideline Update(Taiwan / Hong Kong)Scope of Application
This guide applies to advertisements published in Taiwan and Hong Kong that fall under the categories listed below.
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Stock investment services
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Securities trading platforms
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Investment advisory or investment information services
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Virtual asset or digital asset trading platforms
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Other financial or investment-related services of a similar nature
Taiwan
When publishing financial, stock, virtual asset, or investment-related advertisements in Taiwan, advertisers must meet the following requirements:
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The advertiser must be a legally established and authorized financial services provider under applicable regulations.
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If the advertisement involves investment advice, investment solicitation, or similar advisory services:
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A valid Financial Services Business License or other applicable regulatory authorization is required.
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The advertiser must be properly registered with relevant authorities (e.g., SITCA), where applicable.
Disallowed Examples
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Investment advice, stock recommendations, or “leading” services without proper licensing
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Advertisements containing profit guarantees or loss protection claims
Hong Kong
In Hong Kong, the required license depends on the content of the advertisement.
SFC License Type 1 (Stock Trading)
Applies to transaction-focused advertisements, such as:
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Stock trading platforms
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Account opening with direct trading functionality
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Brokerage, order placement, or execution services
→ A Type 1 license is required for these advertisements.
SFC License Type 4 (Investment Advice / Information)
Applies to advisory or information-focused advertisements, such as:
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Investment research reports
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Stock analysis or market outlook
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Investment strategies or informational content
→ A Type 4 license is required for these advertisements.
When Both Type 1 and Type 4 May Be Required
Both licenses may be required if the advertisement or service combines advisory and trading elements, including:
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Promoting recommended stocks with immediate trading access
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Combining investment guidance with execution functions
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Integrating stock recommendations and trading services in a single offering
Virtual Asset or Digital Asset Services
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Advertisements involving virtual asset or digital asset trading platforms must comply with applicable SFC licensing requirements.
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The appropriate license type will depend on whether the service involves dealing in securities, advisory functions, or regulated virtual asset activities.
Common Restrictions
The following content is not permitted in advertisements:
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Guaranteed profits, capital protection, or loss coverage claims
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Statements that emphasize past performance or historical returns as a basis for investment decisions
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Implications of endorsements by celebrities, professionals, or institutions
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Statements that may cause users to believe the investment is government-approved or officially endorsed
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Invitations to private consultations, “signal groups,” or one-to-one investment guidance
Advertiser Information
In accordance with platform policies,
advertiser information may be displayed in areas accessible to users.
Advertisers are responsible for:
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Providing accurate advertiser identification
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Avoiding false or misleading information
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Submitting license information upon request
FAQ
Q1. Can past performance or historical returns be included in advertisements?
References to past performance or historical returns may be conditionally permitted.
However, such information must not be presented in a way that serves as the basis for investment solicitation or implies guaranteed or future returns.
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Limited, factual, and explanatory references•
Emphasized claims intended to induce investment decisionsQ2. If an advertiser holds a valid government license, can they use expressions such as “government-approved” or “officially certified”?
Advertisers may state the fact that they hold a valid license or authorization.
However, expressions that may cause users to believe the government guarantees the safety or performance of an investment are not permitted.
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“A licensed financial services provider under applicable regulations”•
“Holding a license issued by the relevant regulatory authority”•
“Government-guaranteed investment”•
“Officially certified investment opportunity”