Belgium’s FSMA Warns of Four Unauthorized Firms

Belgium’s Financial Services and Markets Authority (FSMA) has issued a warning against the unauthorized activities of multiple ‘boiler rooms’, a ‘recovery room’ and a ‘cloned firm’ that are unlawfully targeting Belgian investors, as per an official statement.

FSMA operates as a watchdog for financial trading, securities and markets in Belgium, overseeing a variety of assets and Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term issues for traders and consumers.

The latest additions include:

ADEF

ADEF is a company or association that approaches victims of investment fraud claiming that, for a fee, it can help them recover the sums invested or the losses incurred on unlawfully operating trading platforms.

This type of activity is typical of the fraud mechanism known as a 'recovery room'.

ADEF claims to have its registered office in France and uses the telephone number +33 1 70 61 32 11 and generic email addresses structured as follows: [name of contact person]-adef@consultant.com.

Daikyo Brokerage Limited

According to the information available to the FSMA, Daikyo Brokerage Limited may be a form of 'boiler room' fraud.

The Belgium watchdog defines ‘boiler rooms’ as a type of fraud that involves contacting customers unsolicited, often by telephone, offering to sell them little-known shares or exotic financial products. Although the boiler rooms often claim to be an authorized service provider with a professional website and forms to fill out, they are in reality swindlers who offer fictitious or worthless shares or products.

The fraud company uses the website www.daikyo-brokerage-limited.com, the email addresses contact@daikyo-brokerage-limited.com, clientservices@dakyo-brokerage-limited.com and compliance@daikyo-brokerage-limited.com. Furthermore, it displays the phone number +81 345 789 434 and the fax number +81 345 789 230. It claims to have its registered office in Akasaka, Minato, Tokyo, Japan.

Moreover, it uses various bank accounts, purportedly opened in the name of the following companies: Champion Luck Enterprises Limited, CTPP Investment Limited, United Equity Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term Limited, JEC Investment Limited and Asicon Trading Limited.

Jordan Group Financial

The company is another form of a boiler room fraud. It uses the website www.jordangroupfinancial.com, the email address clients@jordangroupfinancial.com and the telephone number +81 3 6740 2257. It claims to have its registered office in Japan (Shinjuku Maynds Tower, 2-1-1 Yoyogi, Shibuya-ku, Tokyo).

Jordan Group uses a bank account which it claims was opened in the name of the company Amj Imp & Exp International Co. Ltd.

Nomura Bank

Nomura Bank is a common type of fraud known as 'cloned firms', which usurps the identity of an existing authorized entity in order to give the appearance of trustworthiness or legitimacy, and thereby to convince investors of its legitimacy.

In this case, the cloned firm referred to the page concerning the French company Banque Nomura France on REGAFI, the register of financial firms maintained by the French supervisory authority ACPR. Furthermore, the website contains references to three British companies regulated by the FCA; Nomura Asset Management UK Limited, Nomura Bank International Plc and Nomura International Plc.

The company uses the website www.nomura-bank.com, the email address support@nomura-bank.com and telephone number +44 20 37 69 76 35. It claims to have its registered office in the United Kingdom (Nomura House, 1 St Martin's-le-Grand, London EC1A 4NP).

The aforementioned companies are not authorized investment firms in Belgium. They are therefore not allowed to provide investment services in or from within the country.

Based on this, the FSMA strongly advises against responding to any offers of financial or recovery services made by the companies listed above and against transferring money to any account number they might mention.