FMA warnings on NoaFX & CMI Group


23 February, AtoZForex.com, Lagos – New Zealand’s Financial Market Authority (FMA) has again warned the public against dealing with a firm, which has been targeting New Zealand clients, without the requisite license or authorization to do so from the relevant authorities. The latest FMA warnings on NoaFX and CMI Group are actually against the Parent company Capital Market Investments Limited, which operates via the brand names

It was discovered that Capital Market Investments Limited was actually registered as a Financial Services Provider, until January 2016, when the firm was deregistered by the regulator. The firm plies its activities with the following business address:

Addresses: Level 10-3, SAP Tower, 151 Queen Street, Auckland 1010, New Zealand and Level 1, 4 Bond Street, Wellington 6011, New Zealand.

97/100
Multibank Review
Visit Site
96/100
Capital.com Review
Visit Site
96/100
Markets.com Review
Visit Site

FMA's concerns

Having the FMA warnings on NoaFX and CMI Group in place, the regulator is concerned over their operations: “The FMA is concerned that on the website http://www.noafx Capital Market Investments Limited is claiming to be registered in New Zealand as a financial service provider and also a member of a disputes resolution scheme when in fact it is neither.  The company is not operating under the strict licensing and regulation requirements of New Zealand, as claimed.”

However, it is worthy of note that Capital Market Investments Limited’s activities actually run deeper than just FX brokerage. The firm states on its website that it also offers services in Private Equity & Investment Funds, Immigration Advisory Services, Debit Card Solutions, Hotel & Real Estate Management, and Financial Concierge Services.

Other recent FMA warning

This warning comes just a short while after the FMA also warned about “Fidelis International Trading Limited. The FMA’s action was due to complain of loss of investor funds relating to the firm. As well as other serious misconducts that put the customer funds at risk. It should however be noted that the above mentioned firm is different from the CySEC registered “Fidelis Capital Markets.”

Operating via the website: fidelisinternationaltrading.com, Fidelis International Trading Limited as well as Capital market investment are both not listed on the FSPR to carry out the business for which it purports in the region.

Think we missed something? Let us know down in the comments section.

Leave a Reply

Your email address will not be published.