FSMA Boiler Rooms warnings


16 July, AtoZForex.com, Lagos – Lately, the Financial Services and Markets Authority (FSMA) has been paying extra attention to the Forex and binary options dealings in its jurisdiction. The regulator has again warned about a host of fraudulent firms, which it considers to be “boiler rooms”. The FSMA Boiler Rooms warnings consist out of another batch of 7 unauthorised financial firms, which are highlighted below. These firms have been unlawfully contacting Belgian consumers.

The 7 added boiler rooms

- Green Seed Capital and CDH Investments, these firms claim to have its registered office in Taiwan at 7F, No. 105-3, Dingnei Street, Nuannuan District, Keelung City 205 Taipei. CDH Investments claims to have registered offices in the United States, Hong Kong and Dubai (Two World Financial Center, 225 Liberty Street, New York, NY 10281; 21/F Vita Tower, 29 Wong Chuk Hang Road, Aberdeen, Hong Kong; Dubai International Financial Centre, 312th Road, Dubai, United Arab Emirates).

- United Global Trading claims to have its registered office in Japan at the Takadanobaba Center Building, Floor 10, 1-31-18 Takadanobaba, Tokyo, Tokyo-to.

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- Gemsasia Investments Corporation claims to have registered offices in Hong Kong (3925 Two Exchange Square, 8 Connaught Place, Central Hong Kong) and in the British Virgin Islands (3rd Floor, Omar Hodge Building, Wickhams Cay I, P.O. Box 362, Road Town, Tortola).

- Burton Financial Planners claims to have its registered office in Hong Kong at 50 Connaught Road Central, Central.

- Euro Asia Invest claims to have its registered office in the United Kingdom at The Broad Gate Tower, 12th Floor, 20 Primrose Street, London EC2A 2EW.

- Moss Securities claims to have registered offices in Hong Kong (1206B-7A F/12, International Commerce Centre, 1 Austin Road West, Kowloon) and in the Cayman Islands (Suite 61, Harbour Centre, Grand Cayman KY1-1102).

- Excel Management claims to have its registered office in India at Indra Prakash Building, 5th Floor, Barakhamba Road, New Delhi, 110001.

Avoid any dealings with listed firms

Alongside the FSMA Boiler Rooms warning, the regulator has firmly stated that these companies are not authorized investment firms or credit institutions in Belgium. Hence, they may not under any circumstances offer investment services in the Belgian region. The FSMA strongly advices individuals against taking up any offer from any of these firms, especially against transferring funds to any account number they might mention.

Recently, the he FSMA released online a document on communication for undertakings that distribute non-mainstream financial products (such as CFD’s, binary options, etc.), pointing out to the rules on cross border dealings from firms.

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