Swedish regulator warns for unauthorised firm
The Swedish Financial Supervisory Authority (Finansinspektionen) has published a statement in order to warn investors against dealing with unauthorised firms.
More precisely, the New York-based firm, Myers and Baker Associates has not received authorisation from Finansinspektionen and therefore is not entitled to provide financial services in Sweden. Finansinspektionen has not received any notification of cross-border activities from other EEA countries.
Reportedly, representatives from Myers and Baker Associates have contacted Swedish investors via unsolicited telephone calls and offer to buy their holdings in unlisted American shares. They also refer to the fake regulator, Financial Control Commission, which is based in Massachusetts, to increase its credibility.
Source: MFSA
