The Belgian regulator FSMA issued a warning about boiler room scams

[mlawson71]

The Belgian financial regulator - the Financial Services and Markets Authority (FSMA) – updated its list of unregulated entities and issued a warning about the new entries as the watchdog believes they are boiler room scams.

The warning lists ABConseils-patrimoine dot com; Takahashi and Partners and Tan Allen Piguet Asset Management.

The FSMA warned that the above-mentioned companies are not allowed to offer investment to traders neither in nor out of the country. The watchdog also urges traders not to have any dealings with said companies.  The FSMA then goes on to warn against responding to so-called cold-calling and not to transfer money to companies registered outside of the country.

Source

It makes sense, really, it’s poor idea to give your money to a company that exists entirely out of the reach of your local law enforcement.

[Bull Bell Academy]

Crucially, the Belgium license issuer has warned consumers against complying with “cold callings”, which are unsolicited investing offers from shady brokers or other alleged financial-services companies.