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Donaldson Findlay - Hayashi and Partners / Hayashi International Equity Securities - Broad Reach Investments - Blacksmith Investments Limited - Harbex Finance Services - Boston Private Law Group Llp - Jazz Loans - Wainscott Consulting Group - Opv Advisor Ltd - Drakefield Corporate Partners - Colbert & Welling Llp - Asashi Mergers & Acquisitions - Eur Investment Limited - Pacific Sunrise Uk ltd - Canton Securities Geneva Ag - Amicus Investment - Asashi Mergers & Acquisitions Group - Atlantic Global Asset Management - Brookfield99 / Brookfield Investment Management - Capital Invest Europe - Cressman Financial Group / Tian Xi Fu Limited / Hongkong Ztwow Trade Limited - Eastern Quay Asset Management - Fujitsu Global / Asian Mercantile Exchange / Centric Limited - Global Consulting Europe - Monex Financial / Monex Bmo Securities / Symando Corporation Limited / Dfan Limited - Nikko Desjardins Asset Management / Xieze International Trading Limited / Gradual Investments Limited - Red Shield Financial / Rong Aviva Limited - Rubin Dunn - Tatsuno International - Thornwood Financial / Long Will Limited - William Paulstern / Camdan Limited - Weinstein & Younge Asset Management Group - Turner, Liebermann & Cohen - Stephen Schmidt Capital Ventures Inc. - Stanford Law Firm - Quantum Private Equity - Costello & Rubin Attorneys at Law - Bradley & Nowell - Seres Bio - Horizon Holdings Ltd - Castle Holdings Limited - King’s Vision Group Limited - www.fxjupiter.com - Drakefield Corporate Partners - Colbert & Welling Llp - Tiger Brokers - Celestial Trinity Limited - Thornwood Financial

The supervisory authorities of the United Kingdom (Financial Conduct Authority – FCA), Spain (Comisión Nacional del Mercado de Valores - CNMV), Ireland (Central Bank of Ireland), Austria (Financial Market Authority - FMA), Switzerland (Swiss Financial Market Supervisory Authority – FINMA), Belgium (Financial Services and Markets Authority – FSMA), the United States (Securities and Exchange Commission - SEC), Hong Kong (Securities and Futures Commission – SFC) and Republic of China - Taiwan (Financial Supervisory Commission - FSC) report companies and websites that are offering investment, financial and insurance services without the required authorisations.

Reported by the FCA:

  • Donaldson Findlay (www.donaldson-findlay.com), with declared headquarters in London;

  • Hayashi and Partners/Hayashi International Equity Securities (www.hayashiandpartners.com), with declared headquarters in Tokyo;

  • Broad Reach Investments (www.broadreach-investments.com), clone of the authorised company Keystone Management Ltd/Keystone Capital (www.keystone-capital.co.uk), with declared headquarters in London;

  • Blacksmith Investments Limited (www.blacksmithinvestments.co.uk), with declared headquarters in London;

  • Harbex Finance Services (www.harbexfinancier.nu), with declared headquarters in London;

  • Boston Private Law Group Llp (www.bostonplg.org), with declared headquarters in Boston;

  • Jazz Loans (www.jazzonthehill.co.uk);

  • Wainscott Consulting Group (www.wainscottconsulting.com), with declared headquarters in New York.

Reported by the CNMV:

  • OPV Advisor Ltd (www.opv-advisor.com).

Reported by the Central Bank of Ireland:

  • Drakefield Corporate Partners (USA);

  • Colbert & Welling Llp (USA);

  • Asashi Mergers & Acquisitions (Japan).

Reported by the FMA:

  • Eur Investment Limited (www.optionsvip.com), with declared headquarters in London;

  • Pacific Sunrise UK Ltd (www.cfdstocks.com), with declared headquarters in London.

Reported by the FINMA:

  • Canton Securities Geneva Ag (www.cantonsecurities.trade).

Reported by the FSMA:

  • Amicus Investment;

  • Asashi Mergers & Acquisitions Group;

  • Atlantic Global Asset Management;

  • Brookfield99/Brookfield Investment Management (clone of an authorised company);

  • Capital Invest Europe;

  • Cressman Financial Group/Tian Xi Fu Limited/Hongkong Ztwow Trade Limited;

  • Eastern Quay Asset Management;

  • Fujitsu Global/Asian Mercantile Exchange/Centric Limited;

  • Global Consulting Europe;

  • Monex Financial/Monex Bmo Securities/Symando Corporation Limited/Dfan Limited;

  • Nikko Desjardins Asset Management/Xieze International Trading Limited/Gradual Investments Limited;

  • Red Shield Financial/Rong Aviva Limited;

  • Rubin Dunn;

  • Tatsuno International;

  • Thornwood Financial/Long Will Limited;

  • William Paulstern/Camdan Limited.

Reported by the SEC:

  • Weinstein & Younge Asset Management Group (www.weinsteinyounge.co), with declared headquarters in San Francisco;

  • Turner, Liebermann & Cohen (www.tlc-law.com), with declared headquarters in New York;

  • Stephen Schmidt Capital Ventures Inc. (www.stephenschmidtcv.com), with declared headquarters in Baltimore;

  • Stanford Law Firm (www.stanfordlawfirm.com), with declared headquarters in Wilmington;

  • Quantum Private Equity (www.quatumpe.us), with declared headquarters in New York;

  • Costello & Rubin Attorneys at Law (www.candr-lawyers.net), with declared headquarters in Boston;

  • Bradley & Nowell (www.bradleynowell.com), with declared headquarters in Newark.

Reported by the SFC:

  • Seres Bio;

  • Horizon Holdings Ltd;

  • Castle Holdings Limited;

  • King’s Vision Group Limited;

  • www.fxjupiter.com.

Reported by the Central Bank of Ireland:

  • Drakefield Corporate Partners (USA);

  • Colbert & Welling Llp (USA).

Reported by the Taiwan FSC:

  • Tiger Brokers;

  • Celestial Trinity Limited, with declared headquarters in Taipei (Taiwan);

  • Thornwood Financial, with declared headquarters in Taipei (Taiwan).

(in "Consob Informa" no. 6/2017 - 20 February 2017)

Data: 20/02/2017

CONSOB communications for investor protection on risks associated with investments in CFDs and binary options

The Commission has published a communication for investor protection on the risks associated with new highly-speculative, risky and complex forms of financial investment such as contracts for difference (CFDs), rolling spot forex and binary options which, over the last few years, have spread more widely in the various European Union countries, including Italy.

The communication describes the characteristics of these products and their forms of placing, which usually occurs through particularly aggressive commercial practices and misleading advertising messages. It follows that investors end up, almost always, accepting them without a real understanding and assessment in advance of the effective scope of the risks that this entails.

The Commission stressed that almost all the subjects offering these products in our country are (a) EU investment firms or banks that operate in Italy under the freedom to provide services (that is directly from the country in which they have their registered office and on the basis of the authorisation granted by the Supervisory Authority of the home country) or (b) EU or non-EU investment firms or banks operating through a secondary office established in Italy (branch).

On the basis of current EU legislation, CONSOB has limited direct powers of supervision and/or intervention in relation to these community intermediaries. It should also be considered by the investor that disputes on the subject of CFDs, rolling spot forex and binary options between Italian clients and EU investment firms without a branch in Italy cannot be taken to the new Arbitrator for Financial Disputes (AFD), set up recently at CONSOB.

In Italy, it must be added, the sector is characterised by the presence of numerous abusive subjects, subjects that do not have authorisation to operate, that offer contracts over the Internet without however being subject to administrative supervision by the Supervisory Authorities.

In brief, in its warning CONSOBtells investors to take care stressing that:

  • investment in CFDs, rolling spot forex and binary options, is not suitable for most investors;

  • this form of investment can entail losses even much greater than the capital initially invested;

  • it is necessary to proceed to begin operations only after effectively understanding and assessing all the risks connected with the investment in question;

  • it is necessary to ascertain always that the offering subject is authorised to operate in Italy, consulting the specific lists maintained by CONSOB (as regards investment firms) and by the Bank of Italy (as regards banks), which can be found on the respective institutional websites. To this end it is opportune to consult also the section “Warnings for investors” present on the CONSOB institutional website, containing the reports, coming from foreign supervisory authorities, as well as from CONSOB itself, of financial activities carried out abusively and of the subjects responsible for them.

(in "Consob Informa" no. 5/2017 - 13 February 2017)

Data: 13/02/2017

Coinspace Ltd. - www.smartbotpro.com

The National Commission for Companies and the Stock Exchange (CONSOB) has suspended for a period of 90 days, as a precautionary measure, the advertising activity carried out through the website www.coinspace1.com relating to the public offering promoted by Coinspace Ltd regarding “cryptocurrency extraction packages(resolution 19866 of 1 February 2017).

* * *

The National Commission for Companies and the Stock Exchange reports that the site www.smartbotpro.com cannot be traced to subjects authorised to provide investments services and activities in Italy.

(in "Consob Informa" no. 5/2017 - 13 February 2017)

Data: 13/02/2017

Ambrosia Capital - The Finance Solutions - Hansford / Hanford and Associates - JJ Matthias Asset Management -Erste Allgemeine Arbeitnehmer Kranken- und Unterstützungskasse - Evo Binary International Dwc - MoneyNetInt Limited - Blue Sky Trade Services Limited - Blue Sky Trade Limited - Noble Brothers Sp. z o.o.. - Accam Ag

The supervisory authorities of the United Kingdom (Financial Conduct Authority - FCA), Austria (Financial Market Authority - FMA), Poland (Polish Financial Supervision Authority - KNF) and Switzerland (Swiss Financial Market Supervisory Authority – FINMA) report companies and websites that are offering investment, financial and insurance services without the required authorisations:

Reported by the FCA:

  • Ambrosia Capital (www.ambrosia-capital.com), clone of the authorised company Ambrosia Capital Ltd (www.ambrosiacapital.com), with headquarters in London (reference no: 712156);

  • The Finance Solutions (www.thefinancesolutions.co.uk, www.thefinancialsolutions.co.uk), with declared headquarters in the United Kingdom;

  • Hansford / Hanford and Associates (www.hanfordlaw.com), with declared headquarters in the USA;

  • JJ Matthias Asset Management (www.jjmatthias.com), clone of the authorised company Jager Johann Matthias (reference no. 444572).

Reported by the FMA:

  • Erste Allgemeine Arbeitnehmer Kranken- und Unterstützungskasse (www.ak-uk.at), with declared headquarters in Vienna;

  • Evo Binary International Dwc (www.evobinary.com), with declared headquarters in Dubai.

Reported by the KNF:

  • MoneyNetInt Limited;

  • Blue Sky Trade Services Limited;

  • Blue Sky Trade Limited;

  • Noble Brothers Sp. z o.o..

Reported by the FINMA:

  • Accam AG (www.accam.ch).

(in "Consob Informa" no. 5/2017 - 13 February 2017)

Data: 13/02/2017

CONSOB Communication for investor protection on the buying and selling of diamonds

CONSOB calls the attention of the public and of intermediaries on the buying and selling of diamonds with regard to which it has received reports from consumers’ associations.

These concern commercial proposals made by specialised companies that operate through their websites or through bank branches. In these proposals diamonds are generally presented as a long-lasting, secure investment, with a possible prospect of a rising price over time and with a significant emphasis on the safe-haven characteristics. The purchase prices of the diamonds, determined directly by the proposer, are alleged to be higher than their market value. It is also alleged that, owing to the lack of transparency of the proposals, it is unclear what part of the price is due to the actual cost of the diamond and what instead is represented by the fees charged by the proposer companies and by the banks at the moment of the transaction.

The rules on transparency and correctness of investment services are not in themselves applicable to the sale of diamonds or of any other tangible assets even if this occurs through the banking channel nor, in these cases, is the publication of a prospectus provided for. However, as already clarified by CONSOB (Communication no. 13038246 of 6 May 2013), the sale of a tangible asset, such as diamonds, can assume the characteristics of an offering of a financial product if elements such as promises of returns, repurchase obligations, making of profits or constraints on the enjoyment of the asset are explicitly provided for, also through related contracts.

On the possible presence of these elements CONSOB has in progress specific investigations and has begun collaboration with the Bank of Italy and with the Italian Anti-Trust Authority.

It is, in any case, of fundamental importance that potential purchasers be informed that these are investments that can present risks that are not immediately perceivable. CONSOB, therefore, calls the attention of the public to this circumstance and to the need to take the maximum caution in carrying out such operations and recommends always following the general rule of considering acceptance of contractual proposal only when one has an adequate understanding and only when assisted by clear and complete documentation.

Finally, CONSOB affirms the need for the purchase bidders - in particular if they are banking operators, conscious of the objective reliability offered by their specific professional position - to make the potential buyers completely aware of the rules applicable, the contractual conditions and the cost, including fees, present in the sales transactions proposed at the branch.

(in "Consob Informa" no. 4/2017 - 6 February 2017)

Data: 06/02/2017

Markets Capital Ltd - Hansa Equity Spa

The National Commission for Companies and the Stock Exchange (CONSOB) reports that:

  • the company Markets Capital Ltd is not authorised to provide investment services and carry out business in Italy in any way, including through the website www.paydayoption.com;

  • the company Hansa Equity SpA – which declares that it has its headquarters in Italy – is not entered in the companies register and is not authorised to provide investment services or do business in Italy in any way, including through the website www.hansa-equity.com.

(in "Consob Informa" no. 4/2017 - 6 February 2017)

Data: 06/02/2017

Hayashi and Partners / Hayashi International Equity Securities - Gkfx Financial Services Ltd. Sp. z o.o. - Colbert & Welling Llp - Drakefield Corporate Partners

The supervisory authorities of the United Kingdom (Financial Conduct Authority - FCA), Poland (Polish Financial Supervision Authority - KNF) and Ireland (Central Bank of Ireland) report companies and websites that are offering investment, financial and insurance services without the required authorisations.

Reported by the FCA:

  • Hayashi and Partners / Hayashi International Equity Securities (www.hayashiandpartners.com), with declared headquarters in Tokyo.

Reported by the KNF:

  • Gkfx Financial Services Ltd. Sp. z o.o..

Reported by the Central Bank of Ireland:

  • Colbert & Welling Llp;

  • Drakefield Corporate Partners.

(in "Consob Informa" no. 4/2017 - 6 February 2017)

Data: 06/02/2017

Dc Digital Processing 2 Ltd - Green Galaxy International Sa - Markets Capital Ltd - Ob Fenix - Capital Markets Banc - Joshua Development Limited - Astra Financial Limited - Blue Seal Limited - Easyinvestment500

The National Commission for Companies and the Stock Exchange (CONSOB) reports that:

  • the companies Dc Digital Processing 2 Ltd and Green Galaxy International SA, operating through the website www.optionbit-it.com, are not authorised to provide investment services and business in Italy in any way;

  • two companies, both named Markets Capital Ltd, with declared headquarters in the Marshall Islands and in the United Kingdom, operating through the website www.fxmarketscapital.com and the web address www.fxmc.eu, are not authorised to provide investment services and business in Italy in any way;

  • Ob Fenix is not authorised in Italy to offer out-of-office, or to promote or place by means of remote communication, investment services or business in any way, including through the website www.obfenix.com;

  • the companies Capital Markets Banc, Joshua Development Limited and Astra Financial Limited are not authorised to provide investment services and business in Italy in any way, including through the website www.capmb.com;

  • the company Blue Seal Limited is not authorised to provide investment and business in Italy in any way, including through the website www.vix500.com;

  • the company Easyinvestment500 is not authorised to provide investment services and business in Italy in any way, including through the website www.easyinvestment500.com.

(in "Consob Informa" no. 3/2017 - 30 January 2017)

Data: 30/01/2017

Diamond Loans - Ono Ventures - Right Capital Partners Limited - Loaningo - Ssw Market Making Gmbh - Go 4 Uk Loans - Business Grants and Loans - Uk Money Lenders  - Hayashi and Partners/Hayashi International Equity Securities - Viagefi 6 Limited - Ebel & Partner Luxembourg Sa - Mario Frías Marina - Jose Miguel Varet Torres - Aaoption - Ib Inversiones / Ib Inversion Bursatil - TechOption - 23 Traders - Titan Trade - Wallace Associates Inc - William Paulstern - Swiss von Reding Ag -  Piccor Ag - Meritalis (Schweiz) Gmbh - Timber Hill Suisse - Holland Financial Fiduciary Services, Netherlands - HK Financial Fiduciary Services - Kimzeen Forex Management Ltd -Pullman International Limited - Admiral Global Private Equity Group - Redwood Options - FxOpen Markets Limited - Fbs Markets Inc e Trader Forex Ltda - Gkfx Financial Services Ltd Sp. Zo.o - www.fxddtrade.com

The supervisory authorities of the United Kingdom (Financial Conduct Authority - FCA), France (Authorité des Marchés Financiers - AMF), Luxembourg (Commision de Surveillance du Secteur Financier - CSSF), Spain (Comisión Nacional del Mercado de Valores - CNMV), Denmark (Danish Financial Authority - DFSA), Norway (Finanstilsynet), Switzerland (Swiss Financial Market Supervisory Authority – FINMA), Hong Kong (Securities and Futures Commission – SFC), Ontario (Ontario Securities Commission – OSC), British Columbia (British Columbia Securities Commission - BCSC), Brazil (Comissão de Valores Mobiliários - CVM), Poland (Polish Financial Supervision Authority – KNF) and Malta (Malta Financial Services Authority - MFSA), report companies and websites that are offering investment, financial and insurance services without the required authorisations.

Reported by the FCA:

  • Diamond Loans (www.diamondloans.co.uk, www.diamond-loans.co.uk),with declared headquarters in Great Britain, clone of the authorised company Tide You Over Ltd (www.tideuover.com), with declared headquarters in Great Britain (reference no. 674556);

  • Ono Ventures (www.onovent.com), with declared headquarters in Tokyo;

  • Right Capital Partners Limited (www.rightcapitalpartners.com), with declared headquarters in New York, clone of an authorised company in Germany;

  • Loaningo (www.loaningo.com), clone of the authorised company Silver City Tech Ltd (reference number 727137);

  • Ssw Market Making Gmbh (www.sswmarketmakinggmbh.com), with declared headquarters in London and Germany, clone of one authorised company in Germany (reference no. 145005);

  • Go 4 Uk Loans (www.go4ukloans.co.uk), with declared headquarters in London;

  • Business Grants and Loans (www.ukgrants.org.uk);

  • UK Money Lenders, clone of an authorised company;

  • Hayashi and Partners/Hayashi International Equity Securities (www.hayashiandpartners.com), with declared headquarters in Tokyo.

Reported by the AMF:

  • Viagefi 6 Limited.

Reported by the CSSF:

  • Ebel & Partner Luxembourg SA (www.ebelundpartners.com), with declared headquarters in Luxembourg.

Reported by the CNMV:

  • Mario Frías Marina;

  • Jose Miguel Varet Torres;

  • Aaoption (www.aaoption.com/es);

  • Ib Inversiones / Ib Inversion Bursatil (www.ibinversiones.com).

Reported by the DFSA:

  • TechOption (www.techoption.com);

  • 23 Traders (www.23traders.com);

  • Titan Trade (www.titantrade.com).

Reported by Finanstilsynet:

  • Wallace Associates Inc (www.wallaceassociatesinc.com), with declared headquarters in Singapore;

  • William Paulstern (www.williampaulstern.com),with declared headquarters in Hong Kong.

Reported by the FINMA:

  • Swiss von Reding AG (www.swissvonreding.com), with declared headquarters in Zurich;

  • Piccor AG;

  • Meritalis (Schweiz) GmbH, with declared headquarters in Zurich;

  • Timber Hill Suisse (www.timberhill-ch.com), with declared headquarters in Geneva.

Reported by the SFC:

  • Holland Financial Fiduciary Services, Netherlands;

  • HK Financial Fiduciary Services;

  • Kimzeen Forex Management Ltd;

  • Pullman International Limited.

Reported by the OSC:

  • Admiral Global Private Equity Group,with declared headquarters in Toronto.

Reported by the BCSC:

  • Redwood Options, which operates through Hampshire Capital Ventures Ltd.

Reported by the CVM:

  • FxOpen Markets Limited (www.fxopen.com.br);

  • Fbs Markets Inc and Trader Forex Ltda (https://fbs.com, https://ptfbs.com and www.traderforex.com.br).

Reported by the KNF:

  • Gkfx Financial Services Ltd Sp. Zo.o.

Reported by the MFSA:

  • www.fxddtrade.com.

(in "Consob Informa" no. 3/2017 - 30 January 2017)

Data: 30/01/2017

Rhine & Associates / Rhine Associates - Colbert & Welling - Liffe Exchange -Savage Finance Limited - Little Loans Limited - Pageon Bank Sa - FxGoldSystem - Capital1 Ag - Gallery New Form - Finance & Investment Association (Asia) / Finance & Investment Association Hong Kong - FengSheng Stock Invest / FengSheng Capital Limited / Hongkong Fengsheng Stock Investment Company Ltd - Carlson-Schmidt Securities - Liberty Holdings Ltd - iCoption - Asian Mercantile Exchange - Asian Mercantile Exchange - 卓益財富集團 (Chinese name)

The supervisory authorities of the United Kingdom (Financial Conduct Authority - FCA), Luxembourg (Commission de Surveillance du Secteur Financier - CSSF), Spain (Comisión Nacional del Mercado de Valores - CNMV), Switzerland (Swiss Financial Market Supervisory Authority- FINMA), Poland (Polish Financial Supervision Authority - KNF) and Hong Kong (Securities and Futures Commission - SFC), report companies and websites that are offering investment, financial and insurance services without the required authorisations.

Reported by the FCA:

  • Rhine & Associates / Rhine Associates (www.rhineandassociates.com), with declared headquarters in the United States;

  • Colbert & Welling (www.colbert-welling.org), with declared headquarters in the United States;

  • Liffe Exchange (www.liffexchange.com, www.liffexchange.org, www.liffexchange.co, www.lifoex.org,www.liffexaccounts.com, www.lifoexaccounts.org,www.lifuturesaccount.com, www.intercommexchange.com), clone of the authorised company Ice Futures Europe (www.theice.com), with headquarters in London (reference no. 207385);

  • Savage Finance Limited;

  • Little Loans Limited.

Reported by the CSSF:

  • Pageon Bank SA, with declared headquarters in Luxembourg.

Reported by the CNMV:

  • FxGoldSystem (www.fxgoldsystem.com).

Reported by the FINMA:

  • Capital1 AG (http://www.capital-1.ch);

Reported by the KNF:

  • Gallery New Form (www.timelessgallerygroup.com).

Reported by the SFC:

  • Finance & Investment Association (Asia) / Finance & Investment Association Hong Kong;

  • FengSheng Stock Invest / FengSheng Capital Limited / Hongkong Fengsheng Stock Investment Company Ltd;

  • Carlson-Schmidt Securities;

  • Liberty Holdings Ltd;

  • iCoption;

  • Asian Mercantile Exchange;

  • Fujitsu Global;

  • 卓益財富集團 (Chinese name).

(in "Consob Informa" no. 2/2017 - 23 January 2017)

Data: 23/01/2017
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