Page last updated: 08 September 2023

Unregistered businesses

This list contains the names of businesses or individuals that are not registered as a financial service provider on the Financial Service Providers Register (FSPR) in New Zealand but may be in the business of providing financial services. An individual or entity that is in the business of providing a financial service to clients in New Zealand should be registered on the FSPR for that service. Not being registered on the FSPR may mean they are not complying with the requirements of New Zealand legislation.

The list is not exhaustive. Prior to engaging, we recommend checking that the Advisor is registered on the Financial Service Providers Register (FSPR).

Deciding how to invest

Fredtrading – Misleading advertising

The FMA recommends caution when dealing with Fredtrading.

Christof Melchizedek – The Lumiere project unregistered

The FMA recommends caution when dealing with Christof Malchizedek, the Lumiere Project and the Conscious Crypto Circle.

We Are All Satoshi (WAAS) - Offering financial services without registration

WAAS claims to offer cryptocurrency trading and wallet services. It is not registered on the Financial Service Providers Register or authorised to provide any financial service to New Zealand residents.

Boomerang Trade (Boomerang) - Offering financial services without registration

We recommend caution when dealing with Boomerang or Boomerang Trade, or any individual or entity promoting its services or products.

Stellarcapitalltd.com - unregistered business, unsolicited offer

We are aware of a representative associated with stellarcapitalltd.com has made an unsolicited offer of an IPO scheme described on karbonate-minerals.com to a New Zealand resident.

SSGA Pro and DBRS Morningstar – Unregistered business, duplicate websites

We recommend caution when dealing with SSGA Pro and DBRS Morningstar, which are duplicate websites.

Admirria Tech / Quadra Pro – unregistered

We recommend caution when dealing with the unregistered business, Admirria Tech.

Apex Analytics – Unregistered

FMA is concerned that Apex Analytics is offering New Zealanders financial services and financial products including convertible notes while not registered. Apex Analytics is not on the Financial Service Provider Register.

Prospero Markets Company Limited – Unregistered Business

FMA is concerned that Prospero Markets (New Zealand) is offering New Zealanders financial services including CFD trading services while not registered.

Express Options – Unregistered financial service provider

We are aware of a New Zealand resident who has invested with Express Options and is now having difficulties withdrawing funds. Express Options is not registered as a financial service provider.

Banker Quotes - Unregistered Business

FMA warns thatt Banker Quotes is offering financial services in New Zealand, while not being authorised or registered on the Financial Service Providers Register to provide these services.

Suspected Ponzi and pyramid scheme WEWE Global or The Blockchain Era promoting LYOPAY

UPDATED WARNING: wewe.global (also known as The Blockchain Era and Lyopay.com potentially operating Ponzi and Pyramid schemes by offering crypto currency products in New Zealand through organized webinars.

Ellev8 - Offering financial advice without registration, misleading promotions

We are concerned that Ellev8 is providing financial advice without being regulated in New Zealand. It is not registered on the Financial Service Providers Register or authorised to provide any financial advice to New Zealand residents

Saltaire Finance - Unregistered business, unsolicited offers

We are aware that a representative from saltairefinanceplc.com has made unsolicited contact to a New Zealand resident and offered investment in shares. The Financial Markets Conduct Act 2013 prohibits unsolicited offers of financial products.

iLimits Invest Limited – False FSP claims; withholding client funds

iLimits Invest Limited was deregistered from the New Zealand Financial Service Providers Register (FSPR) on 28 June 2023 however it is still making claims on its website that it is registered.

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