30 May, AtoZForex, Vilnius — The Kanto finance bureau of Japan’s Ministry of Finance (MoF) has increased its regulatory oversight in its region. Issuing more warning on brokers and financial entities that are unauthorized to offer investment services to Japanese investors. The latest announcement of the regulator was made this morning, as the new Kanto Bureau warning got issued on HighTrade FX.
The HighTrade FX is powered by Pacific Investments Private Limited, which has been providing the financial services to the International Market and also management services to Japanese investors. The HighTrade FX is the latest name in the Japanese regulator’s blacklist. As reported by Kanto Bureau, the unauthorized firm was operating online via high-fx.com.
Reasons for the Kanto Bureau warning?
The unregistered brokerage firm promoted their services via the website, where it was conducting over-the-counter (OTC) derivative transactions. The HighTrade FX is reported as unregistered in Japan, nevertheless, the company chose to solicit for Japanese investors, hereunder, violating the MoF rules. Hence, the Kanto Bureau warning on HighTrade FX was issued.
Kanto Finance Bureau’s message to investors
As Kanto Bureau issued a warning yesterday, it also specified that the information used in the warnings was obtained from solicitation materials may not be a hundred percent accurate. What is more from the Japanese regulator, the companies listed in the warning list may have registration in other jurisdictions. Yet, in order to operate in Japan, they are obliged to have the Japanese Financial Services Authority (JFSA) authorization. A system that is created, in order for the Japanese investors to protect themselves and check whether the company is authorized or not via JFSA website.
Other Forex brokers that received a warning
Earlier this month, the Japanese regulator included seven Forex brokers and Binary Options to its exhaustive warning list. Most of the Forex and Binary Options brokers that listed in the blacklist are located mostly in countries like the Marshall Islands, the UK, Romania, BVI, and New Zealand.
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