Belgium’s regulator updates Warning List of unauthorized investment companies

Belgium’s Financial Services and Markets Authority (FSMA) on Thursday published an updated list of unauthorized investment companies that nevertheless seek to lure Belgian investors.

After the latest update, the Warning List, which the regulator has been compiling since 2013, comprises more than 160 entries, including binary options brokers, forex brokers and so called “boiler rooms”.

All of the companies in the list are operating unlawfully in Belgium. Also, they have not published, where applicable, a prospectus approved by the FSMA, as is required before any public offering of investment instruments may be made within the territory of Belgium.

Below are the newest additions to the list:

  • Peston & Sons Securities;
  • Jones Shaw Capital Partners;
  • Neuberger and Co. Wealth Management;
  • Arian Financial (cloned firm);
  • Dashan International;
  • Norikura-Global (aka Seattle Mercantile Exchange, aka Dalerich Ltd).

The watchdog adds that the list is far from comprehensive and the fact that a company is not featured there does not mean that it is authorized to offer its services in Belgium. Investors are advised to check a special section on FSMA’s website to see whether their financial services provider is properly regulated.

To view the full Warning List, click here.

Read Also: