New Zealand’s Financial Markets Authority (FMA) has published on its website today which blacklist Prosperous International Limited and Brite Advisors.
The that both companies are not registered on the Financial Service Providers Register and are, therefore, not allowed to offer or provide financial services to residents in New Zealand.
The regulator that customers of either of these two companies will not have access to a Dispute Resolution Scheme. This means, should something go awry, the FMA will not be able to provide any assistance.
Prosperous International Limited
Prosperous International Limited is a financial services organization which claims to be headquartered in Auckland, with branches in Hong Kong, Shanghai, and Sydney. The broker allows customers to trade foreign exchange, securities, futures, and funds.
The firm operates through its website www.forexnz.co.nz and lists its address as Level 1, 175 Queen Street, Auckland Central 1010.
Brite Advisors
Brite Advisors is a pension advisory company, which gives “international advice” to its clients. It claims to advise people on how to position, protect and grow their wealth by maximizing their United Kingdom pension. This includes consolidation and transferring pensions.
The company states it has offices in Hong Kong, Dubai, and Australia, but offers its services globally. On its website, it says: “Brite Advisory Group are licensed in Hong Kong with the SFC, in Australia with ASIC, and in the United States with the SEC. Brite Advisory Group also have [sic] numerous pensions schemes, administered in Hong Kong, Gibraltar, and Malta.”
Brite Advisors operates through its website www.brite-advisors.com and has three listed addresses, including L8, 99 Elizabeth Street, Sydney, New South Wales, Australia. On its website, the advisory firm also states it has an investment platform.
The has urged investors to be cautious when investing with this firm or seeking financial or any other form of advice.
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