A worrisome piece of news is out today for clients of retail Forex broker BlackfortFX (Blackfort), a brand of Arena Capital Limited (Arena). New Zealand’s Financial Markets Authority (FMA) has just confirmed that it is investigating the businesses amid concerns that investor funds may be at risk.
The FMA said that it had obtained asset preservation orders over the assets of Arena/Blackfort and associated persons.
The regulator is concerned that Arena may be operating in violation of financial markets legislation.
The FMA did not provide any further details at this stage, as it seeks to protect the integrity of the investigation, but said it was working with the Serious Fraud Office and will provide additional information as soon as possible.
Any investor with information about Arena/Blackfort is encouraged to contact the FMA.
The website of BlackFortFX (www.blackfortfx.com) was operating normally this morning, without any announcements about problems plaguing the normal work of the company.
The official announcement by the FMA on the topic is available by clicking here.