New Zealand’s Financial Markets Authority (FMA) has once again updated its warning list to include InterRock Capital, a company engaged in foreign exchange services including CFDs, stocks, indices and futures trading.
InterRock Capital claims to be registered to provide financial services in New Zealand when it is not.
Misleading Company Details
The brokerage, which is also known as IRCFX or Aino Financial, currently operates under the url www.ircfx.com.au. The FMA has also reported that the company uses the registration details of registered Australian forex broker Vantage FX NZ Pty Limited, but there appears to be no connection between the two businesses.
On visiting the broker’s website, the lack of transparency concerning contact and registration details is evident. The only means of contact is via a given email address or a telephone number in China and no head office address is listed. Furthermore, Finance Magnates was unable to find any evidence of regulation by any jurisdiction, and no connection whatsoever to Vantage FX.
The inclusion of InterRock Capital to the FMA’s warning list follows last month’s addition of , a broker flagged for soliciting its services without a licence. The updates are part of the watchdog’s attempts to clamp-down on unregulated financial services activities.
FMA Updates
The FMA updates the public by means of warnings and alerts when it believes investors may be at risk. Businesses and individuals are named on this list if they are not registered to provide financial services in New Zealand, have had the FMA enforce action against them for misconduct, have either not responded or not provided a satisfactory response to a request for information, or have received a warning notice from the FMA.
InterRock Capital is the latest company to be added to its list of overseas businesses marketing financial services to New Zealanders without being registered and the FMA has recommended that the public does not invest money through this business.
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