Belgium FSMA Boiler Room warning for broker victims has been issued recently following the ban on highly speculative financial instruments last year by the Belgian watchdog.
We learned last month that the Belgium’s Financial Services and Markets Authority (FSMA) blacklisted a large number of entities. Following this, the FSMA again issues a list of unauthorized and unregulated brokers that are offering financial and investment services in Belgium.
The entities comprising the last warning list of FSMA were companies offering binary options, Forex products, CFDs, and other derivatives. The recent list mainly includes a number of boiler rooms. However, the Belgian watchdog has already warned in the last warning about the growing number of boiler rooms. This shows that financial regulator has been quite active in terms of regulating and safeguarding the markets.
The Belgian financial regulator body updates its warning list by adding the below-listed entities. According to the FSMA, the companies seem to be operating unlawfully in the country. Hence, the watchdog warns the Belgian citizens against dealing with the companies engaging in unauthorized activities by issuing this list.
[B]Aichi BMO International (ABMOI) / Leiyu Trade Limited / GHY Partners Limited
Apex Alliance
Citic Tokyo International / Bai Xin Cheng Limited / Jin Yam (HK) Trade Co., Limited
Drukenmiller Investment Services / Timmermans Asia Ltd / Hansen Peters Ltd / Sarandon Asia Ltd
Lexus Group / MCA Advisors / Raeat Holdings Limited
Sino Link Japan / Mypal International Co, Limited / Bai Xin Cheng Limited
West Pacific Dealers[/B]
Moreover, according to the FSMA information, the above companies are engaging mainly in boiler room frauds as per the statement. Therefore, the watchdog alerts the investors against the unlawful activities of various boiler rooms that are contacting the Belgians.
Furthermore, the financial regulator warns the investors not to respond to any financial service offers made by the above companies. The FSMA also strongly advises against transferring money to any account they might mention.