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).

Investor warning: Adsplus Limited unreasonably withholding client funds

WARNING: WARNING: Adsplus Limited is not a registered financial service provider in New Zealand.

FMA warning about unregistered financial service provider XM Global Limited

WARNING: XM Global Limited is not a registered financial service provider in New Zealand or regulated by the FMA. We recommend exercising caution if considering dealing with this entity.

Warning: aspireinvestments.ltd is not registered to provide financial services to New Zealand residents

WARNING: aspireinvestments.ltd is not a registered financial service provider in New Zealand and is therefore not permitted to provide financial services to New Zealand residents. FMA have received reports that investors in this website are unable to withdraw their funds.

Warning issued by the FMA: investors unable to withdraw funds from Lionetix

FMA are concerned that the website lionetix.com may be operating a scam. We have received reports of investors being unable to withdraw their funds.

Warning about Nostra Capital

Warning: We are concerned that Nostra Capital is operating a scam via its website https://nostracapital.com. Nostra Capital is not a registered financial service provider in New Zealand and is therefore not permitted to provide financial services to New Zealand residents. We recommend caution if dealing with this entity.

NYSE Website - Warning for Investors

WARNING: We are concerned the operators of the website https://nyse.shop/dist/#/ (‘NYSE’) may be operating a scam. We have received a report of investors in the company being unable to withdraw their investments. NYSE is not a registered financial service provider in New Zealand

GrayWallet

Warning: We believe GrayWallet is operating a scam via www.gwtpro.net and www.gwt-pro.org (the websites). The websites offer cryptocurrency wallet services to investors. We are aware of an investor using GrayWallet’s wallet services to invest and being unable to withdraw their cryptocurrency.

Saga Trade

WARNING: We are concerned that Saga Trade may be operating a scam. We have received reports of investors being unable to withdraw their investments. Saga Trade is not a registered financial service provider in New Zealand, nor licensed in New Zealand to offer trading in derivatives, including CFDs.

Mido Finance Limited

WARNING: Mido Finance Limited offers plans for investing in DeFi, NFT and cryptocurrency exchanges while offering daily profits from 0.7 to 4.3%, via its website. The website claims that the company is subject to regulation in New Zealand, but the company is not a registered financial service provider in New Zealand. This means that they cannot provide financial products or services to New Zealand residents.

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Unregistered businesses

Investor warning: Adsplus Limited unreasonably withholding client funds

FMA warning about unregistered financial service provider XM Global Limited

Warning: aspireinvestments.ltd is not registered to provide financial services to New Zealand residents

Warning issued by the FMA: investors unable to withdraw funds from Lionetix

Warning about Nostra Capital

NYSE Website - Warning for Investors

GrayWallet

Saga Trade

Mido Finance Limited

www.invest-az.com

Neptune Blocks

SG Consultancy

CV Markets

Synergy Capital Asset Management

Pacific Forex Asset Management