FSMA warns for investment firms not authorised 

The Financial Services and Markets Authority (FSMA), a financial regulator of Belgium, has issued an announcement to warn investors and public against the activities of various providers of/intermediaries in binary options and Forex products, “recovery rooms” and “boiler rooms”, all operating unlawfully.

As mentioned in the warning, the providers/intermediaries/boiler rooms in question are not authorized investment firms or credit institutions in Belgium. They are therefore not allowed to provide banking and/or investment services in or from Belgium. Furthermore, they have not published, where applicable, a prospectus approved by the FSMA, as is required before any public offering of investment instruments may be made within the territory of Belgium.

It should be specified that at this stage, no offer of binary options fulfills the requirements of Belgian legislation.

As regards “recovery room”-type fraud, despite the promises made by the persons offering this service, the fees charged do not result in the victims recovering the lost funds, and the sums paid in the process by the client are thus also lost.

According the announcement, the FSMA has added new companies on the list of unauthorised firms.

The new companies added on the list are:

Boiler Room:
Amicus Investment
www.amicusinvest.com

Boiler Room:
Asashi Mergers & Acquisitions Group
www.asashima.com

Boiler Room:
Atlantic Global Asset Management
www.atlanticgam.es

Boiler Room:
Brookfield99/ Brookfield Investment Management (Cloned firm) www.brookfield99.com

Boiler Room:
Capital Invest Europe
www.capitalinvesteurope.com

Boiler Room:
Cressman Financial Group/ Tian Xi Fu Limited/ Hongkong Ztwow Trade Limited
www.cressmanfinancialgroup.com

Boiler Room:
Eastern Quay Asset Management
www.equam.com

Boiler Room:
Fujitsu Global/ Asian Mercantile Exchange/ Centric Limited www.fujitsu-global.com

Boiler Room:
Global Consulting Europe
www.globalconsultingeurope.com

Boiler Room:
Monex Financial/ Monex BMO Securities/ Symando Corporation Limited/ DFAN Limited
www.monexfinancial.com

Boiler Room:
Nikko Desjardins Asset Management/ Xieze International Trading Limited/Gradual Investments Limited
www.nikkoholdings.com

Boiler Room:
Red Shield Financial /Rong Aviva Limited www.redshieldfinancial.com

Boiler Room:
Rubin Dunn
www.rubin-dunn.com

Boiler Room:
Tatsuno Intenational
www.tatsunointernational.com

Boiler Room:
Thornwood Financial/ Long Will Limited www.thornwoodfinancial.com

Boiler Room:
William Paulstern
www.williampaulstern.com

Source: FSMA

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