Hong Kong’s SFC Warns Investors on OTEX World Corporation

Hong Kong’s financial regulator, the Securities and Futures Commission (SFC), today added OTEX World Corporation to its Alert List.

OTEX World Corporation is the latest brokerage to be listed by the SFC under the category of Unlicensed Entities, and follows a further warning by the regulator just days ago about Ephraim Global, another unlicensed entity, as reported by Finance Magnates.

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Unlicensed Entity

OTEX World Corporation, which operates online via the url www.otexworld.com, is located at The Hansa Bank Building, 1/F, P.O.Box 727, Landsome Road, The Valley, AI-2640, Anguilla, British West Indies. It describes itself as a Proprietary Trading House specialising in executing innovative trading strategies across multiple classes of assets globally.

According to the regulator, the brokerage has been targeting Hong Kong investors when it does not have the authority to do so. Besides not having the required licence in Hong Kong, Finance Magnates was also unable to find any evidence of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term by any other financial jurisdiction.

Unlicensed entities typically use the names of similar legitimate companies in the hope of attracting would-be investors. Such scams are prevalent across many regulatory jurisdictions, which has subsequently necessitated counter efforts from regulators such as the SFC, the Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term) in the UK and the National Futures Association (NFA) in the US.

Hong Kong's Watchdog

In this instance, the SFC seeks to inform investors by drawing attention to illicit operations and unregulated entities that market participants should abstain from doing business with. Its latest warning today on the activities of OTEX World Corporation is part of its on-going efforts to clamp down on unregulated firms soliciting their services.