Austrian Financial Market Authority (FMA) warns for two financial services firms 

The Austrian Financial Market Authority (FMA) has issued a press release to inform that by publication in the official gazette “Amtsblatt zur Wiener Zeitung” of 11 February 2016 the below providers of the websites is not entitled to provide investment services in Austria requiring a licence. The provider is therefore not entitled to provide investment advice in relation to financial instruments pursuant to Article 3 para. 2 no. 1 WAG 2007.

Websites:

www.kapitalwertbank.com
with alleged business location in
Seitzergasse 2/4
1010 Vienna
Tel. +43 720815470
E-Mail: enquiries(at)kapitalwertbank.com

www.zugfx.com
with alleged business location in
ZUG FX – Customer Services Dept.
25 Canada Square
Canary Wharf
London,
E14 5LQ
United Kingdom
Tel. 0203 129 5329
E-Mail: enquiries(at)zugfx.com

FMA disclose that pursuant to Article 92 para. 11 first sentence of the 2007 Wertpapieraufsichtsgesetz (WAG 2007; Securities Supervision Act), the Austrian Financial Market Authority (FMA) may disclose to the general public by publication on the Internet, in the official gazette “Amtsblatt zur Wiener Zeitung”, or in any other newspaper with nationwide circulation, that a particular natural or legal person is not entitled to carry out certain investment services (Article 3 para. 2 nos. 1 to 4 WAG 2007), provided that said person has given cause for such action and informing the general public is deemed necessary and reasonable with regard to possible disadvantages of the person concerned.

Source: FMA Austria

---