Brokes News

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SEC Charges Penny-Stock Operators in Push to Crack Down on Repeat Offenders

The Securities and Exchange Commission today charged two individuals with defrauding investors in penny stock companies that claimed to have valuable patents.  One of those charged had been barred from the penny stock business based on his role in another securities scheme and neither he nor his companies had ever been issued any patents by the U.S. Patent and Trademark Office, the SEC alleged.   Hatfield is a repeat offender whose prior securities schemes resulted in a criminal conviction, injunctions, a contempt of court finding, and broker-dealer, investment adviser, and penny-stock bars. The SEC’s complaint alleges Hatfield controlled the two companies but concealed his role in them by having his wife and Lovern named as corporate officers and directors. The U.S. Attorney’s Office for the Southern District of Florida today filed related criminal charges against Hatfield, Lovern, and others, and the SEC announced a trading suspension in NanoSave Technologies (NNSV).   According to the SEC’s complaint, the defendants hired unregistered brokers to cold call investors and pitch investments in “patent units,” using scripts written by Hatfield, including one that falsely claimed N1 Technologies had patented a cure for staph infections.  Investors were told that purchasing an $80,000 unit could yield as much as $1 million based on sales of similar patents, the SEC alleged.  The SEC alleged that although investors were told that their money would help fund further research and development, the defendants used most of it for personal expenditures and to pay sales commissions of up to 40 percent.   “As alleged in our complaint, Hatfield is a recidivist who fraudulently raised money by selling investors interests in non-existent patents,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.  “This action is part of the Miami Regional Office’s Recidivist Initiative and the Commission’s efforts to pursue recidivist violators and hold them accountable.”   The SEC is seeking return of the defendants’ allegedly ill-gotten gains, with interest, a civil monetary penalty, a court injunction, and other relief.     Source

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CySEC Renounces AJF Financial Services’ CIF Authorisation

The Cyprus Securities and Exchange Commission (CySEC) has renounced the CIF authorization of AJF Financial Services Ltd. AJF first received its CySEC CIF license (number 295/16) in February 2016. The Company, will no longer provide its services in Cyprus and it's worth mentioning that AJF first received its CySEC CIF license (number 295/16) in February 2016.   AJF provided investment services via the following domains: AlphaInvest.eu Direktbroker24.de  CapitAlpha.com EU-Capitals.com TradeFinancial.eu OndaTrade.com  The Company is obliged to settle within a period of three (3) months, its obligations arising from the investment services that lapsed. It is noted that during the above period, the Company will remain under the supervision of CySEC.

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FCA warns against Yinforex Capital Ltd

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Yinforex Capital Ltd. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. See the article here.

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FCA warns against Lend Mutual clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Lend Mutual. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. See the article here.

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FSMA warns the public against the irregular activities of Five Winds Asset Management and QW Lianora Swiss Consulting SA.

The Financial Services and Markets Authority (FSMA) warns the public against the irregular activities of Five Winds Asset Management and QW Lianora Swiss Consulting SA. These companies offer investment services in Belgium without respecting the Belgian financial legislation. Five Winds Asset Management and QW Lianora Swiss Consulting SA are not allowed to provide investment services in Belgium. See article here

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FSMA warns against SKY WAY CPA & CO.

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Sky Way CPA & Co., company that offers investment services. Sky Way CPA & Co. is not an authorized investment firm in Belgium. It is therefore not allowed toprovide investment services in or from Belgium. See the article here.  

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FSMA warns against Premier Capital Group

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Premier Capital Group, a company that offers investment services. Premier Capital Group is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium. See the article here.

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FSMA warns against MWI Consultants

The Financial Services and Markets Authority (FSMA) warns the public against the activities of MWI Consultants, a company that offers investment services.​ MWI Consultants is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium See the article here.

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FSMA warns against Dynamic Target Marketing

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Dynamic Target Marketing, a company that offers investment services.​ Dynamic Target Marketing is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium. The FSMA thus strongly advises against responding to any offer of financial services made by Dynamic Target Marketing and against transferring money to any account number it might mention. See the article here.  

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FSMA warns against Trade Invest 90

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Trade Invest 90, a company that offers binary options without complying with Belgian financial legislation. Trade Invest 90 is not allowed to provide banking and/or investment services in or from Belgium. Since 18 August 2016, no investment firm (authorized or not) is permitted actively to distribute, within the territory of Belgium, binary options or any other derivative instruments whose maturity is less than one hour and/or that directly or indirectly use leverage (including forex derivatives and CFDs). The FSMA thus strongly advises against responding to any offer of financial services made by Trade Invest 90 and against transferring money to any account number it might mention. See the article here.

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FSMA warns against Pacific Chiba Trust

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Pacific Chiba Trust, a company that offers investment services. Pacific Chiba Trust is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium. See the article here.

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FSMA warns against Akanagi Group

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Akanagi Group, a company that offers investment services. Akanagi Group is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium.     See the article here.

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FSMA warns against Ashton Whiteley

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Ashton Whiteley, a company that offers investment services. Ashton Whiteley is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium. See the article here.

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FSMA warns against Fairway Capital Investments

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Fairway Capital Investments, a company that offers investment services. Fairway Capital Investments is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium.   See the article here.

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FSMA warns against Onex Busan Financial

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Onex Busan Financial, a company that offers investment services. Onex Busan Financial is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium.   See the article here.

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FSMA warns against ATB Holdings

The Financial Services and Markets Authority (FSMA) warns the public against the activities of ATB Holdings, a company that offers investment services. ATB Holdings is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium. See the article here.

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FSMA warns against the activities of Nagaharu Global

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Nagaharu Global, a company that offers investment services.​ Nagaharu Global is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium. See the article here.

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FSMA warns against Novature Group

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Novature Group, a company that offers investment services. Novature Group is not an authorized investment firm in Belgium. It is therefore not allowed to provide investment services in or from Belgium. See the article here.

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FSMA published a list of companies operating unlawfully in Belgium

The Financial Services and Markets Authority (FSMA) has, on several occasions, warned the public against the activities of various providers of/intermediaries in binary options and forex products, “recovery rooms” and “boiler rooms”, all operating unlawfully. As mentioned in these warnings, the providers/intermediaries/boiler rooms in question are not authorized investment firms or credit institutions in Belgium. They are therefore not allowed to provide banking and/or investment services in or from Belgium. Furthermore, they have not published, where applicable, a prospectus approved by the FSMA, as is required before any public offering of investment instruments may be made within the territory of Belgium.   See the full article with the list of companies here.

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FSMA warns against the fraudulent activities of Fintera

The Financial Services and Markets Authority (FSMA) warns the public against the fraudulent activities of Fintera, a company that is offering credit illegally to consumers. Fintera is not authorized or registered in Belgium as a lender or credit intermediary. Therefore, Fintera may not offer credit in Belgium. See the article here.