Kiwi supervisor FMA warns against illegal conduct in New Zealand. Today, the company in the spotlight is Huang Investments Limited. Is Huang Investments Limited scam or reliable?
26 July, AtoZForex - Recently, the regulator from New Zealand, Financial Market Authority (FMA), has issued a new warning regarding Huang Investments Limited, also known as Huang International. The brokerage was making cold calls soliciting traders in New Zealand. As MFA further noted, Huang Investments Limited also received a warning by the Securities and Futures Commission (SFC) in Hong Kong.
Is Huang Investments Limited scam or reliable?
The brokerage company is accused of withholding of traders’ funds, for which it does not provide any reasonable explanations. Additionally, Huang Investments Limited is not authorized to offer financial services in New Zealand. The FMA highly recommends exercising caution when dealing with the brokerage.
New Zealand regulator has stated in the official announcement:
"The FMA recommends exercising caution before dealing with Huang Investments Limited. We have received reports that representatives of Huang Investments Limited are cold calling New Zealand Residents. We have also received reports of unreasonable or unexplained withholding of client funds by Huang Investments Limited."
Huang Investments Limited has no registration to provide financial services in New Zealand. The Financial Markets Authority also notes the warning made by SFC in Hong Kong in relation to Huang Investments.
The warning from SFC did not prevent the company from operating in Hong Kong. Huang Investments Limited claims to have an office on the following address:
4 Carnarvon Road, Tsim Sha Tsui, Kowloon, Hong Kong
However, in reality, there is no office of Huang Investments Limited on this address. The company continues to target local clients and uses a bank account registered under the name of Nero Holdings Limited for settlement purposes.
We tried to access the official website of the company, but it appears blocked.
Previous warning against Huang Investments Limited
Earlier in July, the FMA warned investors to be cautious with Stern Options based in Bulgaria. The company, also known as Stern Binary Options, was unauthorized to operate in New Zealand. Despite that, binary options brokerage has been soliciting traders.
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