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Screenshot of a breaking news alert e-mail from Q2 2017
Japan’s Financial Services Agency (FSA) has earlier today updated its Warning List of OTC derivatives trading services providers that are targeting Japanese clients but are not authorized to do so.
The newest addition to the list is GFB Capital Limited, a company with an address in the UK. Its business is associated with brands like GFB Options, WPS Marketing LTD, CASPOMAT, LTD, BS&Kennedy LTD, Kensington Intellectual Property LTD. The Japanese authorities have already warned against these brands earlier this year.
The FSA notes that under Japanese laws, even if a derivatives trading firm is registered overseas, it should obtain necessary authorization from Japanese authorities to target Japanese clients. This requirement covers companies that offer their services online too.
You can view the full FSA list of warnings against unregistered investment services providers by clicking here.