FMA warns about UFX Global, Wildex and Holborn Assets
The Financial Markets Authority has issued warnings about three enterprises.
It says it believes the registration and regulation information claimed on the website of UFX Global Ltd is false and misleading.
"We are concerned that UFX Global Ltd could be involved in a scam. It is based overseas with no presence in New Zealand and does not appear to be subject to regulation by an overseas regulator."
The FMA says the company appears to be targeting New Zealand residents through online advertising. It is not a registered financial service provider in New Zealand and not licensed to issue derivatives in New Zealand.
The FMA says it recommends caution before dealing with Wildex Investment Ltd and the website www.wildexinvestment.com as it has been cold calling New Zealand residents with an investment offer in a fictitious Public Share Offering (IPO).
"It is not licensed or regulated to provide financial services in New Zealand.
"It is not listed on the Securities and Futures Commission of Hong Kong’s public register or licensed persons and registered institutions, nor in Germany or the US where the website www.wildexinvestment.com claims to have offices.
"It has the hallmarks of a scam," the FMA says.
The FMA says it has issued a warning about Holborn Assets Ltd of the United Arab Emirates because it is not a registered business in New Zealand.
Last updated on the 16th September 2019