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

CTM Group Limited (CTM)

Complaints from overseas-based customers of CTM about CTM’s failure to repay clients in accordance with their instructions.

Eco Investments Group

Eco Investments Group is not registered or licensed to provide financial services in New Zealand.

Galleass Capital NZ Limited

Persons offering financial services in NZ without appropriate registration or authorisation from FMA and false/misleading advertising

Tascadero Group S.A

Un-registered overseas brokers and false/misleading advertising.

FMO Services LP

Un-registered overseas brokers & false/misleading advertising.

Capital Alliance Limited

Offers Financial Services in New Zealand without appropriate Registration.

Privilege Trading House Limited

False/misleading advertising; and persons offering financial services in NZ without appropriate registration or authorisation from FMA.

Bureau of Financial Trading

Bureau of Financial Trading offer financial services in NZ without appropriate registration and have false advertising on their website.

Cover Capital Partners

Offers financial services in NZ without appropriate registration and has false advertising on their website.

Securities Research Company Limited

Securities Research Company Limited is an unregistered business in New Zealand

Loan2Day Financial Company Limited

Loan2Day Financial Company Limited is not registered to provide broker services in New Zealand.

FX Promax Limited

FX Promax Limited is not registered on the New Zealand Companies Register and is not a registered financial service provider.

Ajay Kumar Vallabhaneni

Mr Vallabhaneni is no longer authorised to provide financial adviser services.

IB Capital FX (NZ) LLP

This entity was registered on the Financial Service Providers Register but has been de-registered as it did not have a place of business in New Zealand.

Millennium FX

Millennium FX is not registered as a Financial Services provider in New Zealand and is therefore not allowed to offer financial services in New Zealand.

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