17 October 2022

Cedar Financial Limited in breach of New Zealand financial markets legislation

FMA are concerned that Cedar Financial Limited (Cedar) that operates the website https://cedarfinancial.ltd is falsely claiming to be a New Zealand based company and is operating in breach of New Zealand financial markets legislation.

We received a report from a member of the public who was unable to withdraw funds invested with this entity. The person was required to pay $1,050 for an “insurance deposit” and a further $750 in order to process funds withdrawal from their trading account.

The New Zealand address listed on its website belongs to a New Zealand registered company with the same name Cedar Financial Limited (NZBN: 9429042502296). The New Zealand registered company has confirmed that they are not associated with Cedar or its website.

Further, Cedar is providing financial services that require them to be registered as a financial service provider in New Zealand. We note that Cedar is not registered and therefore it is not permitted to provide financial services in New Zealand and/or from a place of business in New Zealand.

Entity name: Cedar Financial Limited
Email: [email protected]
Website: cedarfinancial.ltd