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The Financial Markets Authority (FMA) of New Zealand issued on Thursday a warning notice against investment company Capital Trust Management for doing business in the country without the required authorization.
The company is not registered to provide any financial services in New Zealand, but has nevertheless been targeting local residents. In fact, it has been cold calling them and offering them investment opportunities. The entity is has not been entered into the country’s Financial Service Provider Register (FSPR), which means it is not allowed to operate in New Zealand.
Moreover, regulatory authorities in other countries have also issued warninges agains Capital Trust Management.
“We note recent warning by the Australian Securities and Investments Commission (ASIC) in relation to Capital Trust Management. ASIC has advised that the business could be involved in a scam,” the New Zealand watchdog’s warning read.
The company claims to be based in New York City and operates via the website www.ct-mgmt.com. The website is no longer operational and no information about the company was immediately available.
When engaging with unauthorized and non-regulated brokers, especially blacklisted ones, traders are putting their investments at higher risk. We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.