Content of Penalty:
It has been brought to the attention of FMA that Skyway Capital and its associates are offering financial services to New Zealand residents via social media and via other New Zealand residents. Skyway Capital and The Skyway Group are not registered as a financial service provider in New Zealand and is therefore not permitted to provide financial services to New Zealand residents.
FMA also notes recent warning by the regulators in Belgium, Lithuania and Estonia in relation to Skyway Capital and The Skyway group. It is noted on the warnings that Skyway Capital and The Skyway Group could be involved in a scam and are an unlicensed entity in those jurisdictions.