Just a heads up, facebook looks like they're implementing socialads flagging by end users:
When you click on the hands up, a prompt shows up which asks you to say what you liked about the ad. You can select from “Interesting”, “Relevant to Me” and “Good Offer.” There are a number of things that show up when you vote the ad negatively including “Misleading”, “Offensive”, “Pornographic” and a number of others.
-- Facebook Launching SocialAd Reviews - The Unofficial Facebook Blog (allfacebook.com)