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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 list of unregistered investment companies that target Japanese residents.
Amid the latest additions to the list is Brilliant Stage Limited, operating as Brilliant One Forex, an FX services provider that purports to be based in the Seychelles: Sertus Chambers, PO Box 334, Suite3, lSt Floor, La Ciotat Building, Mont Fleuri, Mahe, Seychelles. The company offers its services via https://brilliantoneforex.com, which has a Japanese version too, meaning that the broker is targeting Japanese clientele.
Under the Japanese law, even if a derivatives services provider is located outside of Japan but is offering its services to Japanese investors via online means, it has to obtain the necessary registration with the Japanese authorities. Not having such regulatory permissions lands companies in the list of unregistered businesses – and this is what happened to Brilliant One Forex.
You can view the updated the FSA list of unregistered overseas investment services providers by clicking here.