New FX business entered into Russia’s TSRFIN ‘black list’

The following press release is translated to English from Russian courtesy of Google Translate, with some editing to make it more clear. The news alert is concerning a new FX related business violating rules of Russian self regulatory watchdog TSRFIN and which in turn means it has been black listed as high warning to investors not to do any business with.

SRO TSRFIN reports that the monitoring of financial services market was decided to include the LLC “Smart Company” ( in the “black list” of TSRFIN.

Promise implausible and / or guaranteed return: 
Company offers investors high and stable income in the Forex market in the form of “deposits” in the “business plans” with a yield of 2.5% to 12% per week.

The presence of significant bonuses for attracting new customers: 
The company offers a tiered reward the involved clients (total 10 levels) in the amount of 10% of the amount invested personally attract customers to 1% of the amount invested by the client level 10.

Lack of objective guarantees disbursements: 
not objective guarantees (except promises of) payments claimed percent – source of repayment in the form of trade in the Forex market is not confirmed by objective data. Company’s business model does not possess a degree of transparency sufficient to recognize the possibility of payment of said interest otherwise than by previously raised funds clients.

Signs of false positioning: 
Existence of a false position, in particular, by using the promotional concept of “contribution,” which in the Russian legislation traditionally refers to banking. Along with this, the company uses in the contract term “cash management trust,” which is contrary to the civil legislation of the Russian Federation. There is no information about available licenses in Russia, providing fundraising activities to private clients and asset management. TSRFIN warns citizens that the investment in the specified Internet project may be associated with an increased risk of loss of some or all of the invested capital. For a list of companies having said signs, visit

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