Hong Kong’s SFC warns of a Blackstone clone

Hong Kong’s SFC warns of a Blackstone clone

- in All News, Warnings
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Hong Kong’s financial regulator SFC has joined in on the warnings about clones, imitating legitimate financial companies, by warning of an imitation of the Blackstone Group. According to the watchdog, the Blackstone Financial Investment Co Ltd is an unlicensed entity, using a similar name to confuse potential investors. Its website, www.388hr.com, is already inactive. Furthermore, the address in Hong Kong, provided by it – 23/F B07 Hover Industrial Building, No. 26-38 Kwai Cheong Road, Kwai Chung, New Territories, belongs to a secretarial company.

The company Blackstone Financial Investment Co Ltd is not associated with Blackstone Group (HK) Ltd, which is an SFC licensed corporation, part of the largest alternative investment company in the world – the US-based The Blackstone Group L.P. The legitimate entity is a multinational corporation involved in private equity, investment banking, alternative asset management and financial services. Besides New York and Hong Kong, the Blackstone Group has offices in London, Paris, Dusseldorf, Sydney, Tokyo, Singapore, Beijing, Shanghai, Madrid, Mumbai and Dubai.

Today’s warning of SFC is one of several, issued by various regulators across the world in the past few days. On Monday UK’s FCA warned of a forex broker that cloned the regulated Capital Markets Trading UK LLP. Bulgaria’s FSC also warned of two dubious forex brokers – Tiger Asset Management Lcc Bulgaria and Tiger Asset Management GMBH Austria are using the same name as the German-regulated company of the same name.

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