Financial alerts about alleged bogus firms offering unauthorised advice published this week by government regulators worldwide.
Warnings about bogus advisers – Worldwide
The International Organisation of Securities Commissions is a global database of unregulated and unauthorised financial firms reported by financial regulators in 115 financial centres worldwide.
The aim is to give consumers and regulators a central reference point about unauthorised firms offering financial and investment advice.
Bogus adviser alerts on the International Organisation of Securities Commissions web site:
- Private Placement Associates – Switzerland
- Schmidt & Hammond – Canada
- AIM Corporation Limited – Hong Kong
- Capstone Currency Group – Switzerland
- Capstone Traders – Switzerland
- Belmont Financial Group – Hong Kong
- Stonebridge Securities Securities and Futures Commission – Hong Kong
- DSMG Limited trading as Binarybrokerz – Canada
- Redtulips Consultants Ltd trading as Redwood Binary Options – Canada
- Fabbeck Bank plc –Luxembourg
- Plan B and BourseBinaire.fr – France
- Shinshiro International – Belgium
- Brilliant Sheen Limited – Belgium
- Tenjin & Associates – Belgium
- Voth Nixon Group – Belgium
- Condor Capital Management – Belgium
- Advanced Global Securities Corporation trading as AGS Corporation (clone) – Belgium
- CCMGT Management Consultancy – Belgium
- CME Global Corporation – Belgium
- Cunningham Mutual – Belgium
- Manniworth Co Ltd – Belgium
- Elantra Ltd – Belgium
- Deniver Ltd – Belgium
- Prestige Equity – Belgium
- Pro-Nice L – Belgium
- AEG Financial – Belgium
- Pro-Nice Limited – Belgium
- Bayside Financial Services – Belgium
- Belmont Financial Group – Belgium
- Capital Precision Belgium – Belgium
- Clewis Financial – Belgium
- Aoguan Hong Kong Co Limited – Belgium
- Elan Financial Group Limited – Hong Kong
Warnings about bogus advisers – UK
The Financial Conduct Authority (FCA) web site has these warnings this week:
- Kansai & Partners
- Halifax Finance Loan (clone)
- George Banco (clone)
- Kramer and Associates Management Group LLC
- Bridgewater Asset Management
- Atom8 Asia (clone)
- IK Investment Partners (London) (clone)
- Otam8 (clone)
- Peterson Group
Clone firms or web sites are web sites purporting to belong to a regulated financial firm which are operated by an unauthorised third party.
Dealing with an unregulated firm
If you buy shares, save money or invest with an unregulated firm, you lose any protection offered by the Financial Ombudsman and the Financial Services Compensation Scheme. Broadly, you have no independent place to complain if the deal goes wrong and are unlikely to win any compensation.
Checking if a firm is regulated
Go to the Financial Services Register to check if a firm is regulated in the UK.
Reporting a suspected bogus adviser
Find out how to report unauthorised advisers on the FCA web site