New Zealand’s (FMA) has posted a warning on its website today against Greenfields Capital. According to the regulator, the firm is unauthorised in the country.
The watchdog also added that the firm is not incorporated in New Zealand and is not registered on the Financial Service Providers Register. As a result, the firm is not allowed to provide any financial products or services to residents in the country.
In addition, Greenfields Capital has been accused of withholding client funds by a New Zealand-based investor. The firm claims to offer investors the opportunity to trade in currencies, commodities and shares via contracts for differences (CFDs). It operates through the website www.greenfieldscapital.com or through the GREENFIELDS mobile app.
The company claims to be based at 9th Joe Street, 5th Floor, Office 71, Tallinn, Estonia. The company also has addresses in Prague, Scotland and London.
Another regulator blacklists Greenfields Capital
The is not the first regulator to flag the unauthorised firm as suspicious. The Estonian Financial Supervision Authority first flagged the company back in January. In March this year, the Superintendence of the Securities Market of the Republic of Panama also blacklisted the firm for illegally offering financial services without the proper authorisation.
One month later in April, the Czech National Bank flagged YOLENGER, which was offering unauthorised financial services under the trade name Greenfields Capital. In the same month, the (FCA) warned against Premium Peak Ltd, which was also providing financial services through the Greenfields Capital trading name illegally. The British watchdog also made sure to point out that it is in no way associated with the authorised firm Greenfield Capital II Limited, FRN 603625.
Besides the FMA, the (MAS) was the most recent to blacklist the broker. Due to the many collection of warnings, investors should avoid interacting with the firm completely. Should you be contacted by the company, it is wise to inform your local financial regulator.
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