Warnings

WARNING

 

On the basis of the regulatory role of the Securities and Commodities Authority (SCA) to ensure sound transactions and protect investors in accordance with the provisions of the Federal Law No. (4) Of 2000 concerning the Emirates Securities and Commodities Authority and Market and the regulations issued thereunder, and pursuant to the Chairman of the SCA Board of Directors' Decision No. (9/R.M) of 2017 concerning the Controls for Publishing Warnings;

And as it was observed that some entities publish ads and announcement that they are engaged in activities or they provide services regulated by the SCA without obtaining the relevant license, authorization or approval from the SCA;

 

Therefore, the SCA would warns:

Investors from dealing with the entities whose details are stated below:


 

#

Name of Person

Address

Practice not licensed by the SCA

1

DIAMOND FOREIGN MARKETS COMMODITY CONTRACTS BROKERAGE L.L.C

Unidentified

​The securities and commodities authority (SCA) advices the investors that the  mentioned company does not have any  license from SCA to carry out any activities Subject to the organization and licensing of the SCA. and therefore the Authority is not responsible for any dealings with the said company in this capacity.

​2

Unidentified

​Unidentified

​Due to the complaints made by some investors to the Dubai Financial Market that an entity is using its name, details and logo along with Al Ansari Financial Services, Securities and Commodities Authority urge investors to make sure that whatever entity they are dealing with to trade securities or commodities or receiving services  is licensed by the Securities and Commodities Authority

                  3

Neto Trade Company
Through the website
www.netotrade.ae/

Unidentified

The Authority asserts that the said company is not licensed by the Authority to carry out any of the financial activities under its control. Therefore, it calls on investors in the State to be cautious about dealing with the said company on any of the services related to the activities subject to the Authority's supervision.

4

Unidentified

Unidentified

Promotion of or dealing in financial products associated with digital tokens.

5

Unidentified

Unidentified

Provision of financial analysis services for a public joint stock company during subscription period in its shares without a relevant license, authorization or approval from the SCA.

6

Unidentified

Unidentified

Warning from the SCA against initial coin offerings (ICO).

7

Al-Najm Al Wathek- Twitter Account(@Safwat87696019)

Unidentified

The owner of the Twitter account provided certain services associated with the financial activities regulated by the SCA; namely financial consultations and financial analysis, without obtaining a license from the SCA.

8

​Asian Gold&Commodities Exchange(www.agcx.com)

The website contains a reference to an address for an office providing services relevant to the activity of the website domiciled in the Emirate of Ajman, UAE.

Creating an electronic forum (market) through the website www.agcx.com to trade in gold and commodities without a license from the SCA.

9

Financial.org

www.financial.org

“It appeared that www.financial.org has announced the provision of services which originally falls under the supervision of the Securities and Commodities Authority, without having obtained an approval, a license, or a permission to do so. As such, we urge investors not to use this website or any of the services announced, whether relating to securities and commodities trading or to investment portfolios”.

​​10

​CMS Financial L.L.C

​Dubai

​CMS Financial is licensed company by Securities and commodities Authority  to engage in brokerage activities in the trading of commodities in the Dubai Gold and Commodities Exchange (DGCX). The company is not licensed to carry out any financial activities or provide any other financial services. SCA advices the public in this regard if they wish to Deal with the mentioned  company, it has to be dealt within the limits and the purposes of the activity authorized by SCA.

​11

Islamic European Investment Bank

​Unidentified

​The Bank is not licensed by  SCA, therefore  SCA is not responsible for any dealings as the activities is not under SCA control.
SCA also notes that its intention is to warn about the Islamic European Investment Bank (Rasmala), and not the Rasmala Investment Bank Ltd.

​12

The old account name:
Ahmed DFM
Twitter account
AhmedDFMwinner @

The new account name:
Ahmed stocks
Twitter account
AhmedMwinner

​Unidentified

​The Securities and Commodities Authority (SCA) calls upon the account holder not to be accredited by the Authority as a financial advisor or financial analyst, and therefore the Authority is not responsible for any dealings with the said person in this capacity.

​13

​The website (www.sgmorgan.com)

The website contains a reference for an office of the company located in the Emirate of Dubai.

The contents of the website www.sgmorgan.com indicate that it has provided services related to capital market transactions and financial brokerage services. The securities and commodities authority (SCA) advices the investors that the above mentioned website does not have any  license from SCA to carry out any activities Subject to the organization and licensing of the SCA. It also advices not to deal with the mentioned website in respect of any services related to the financial activities subject to the regulations of SCA.

IOSCO alerts and warnings


“IOSCO receives alerts and warnings from its members about firms which are not authorized to provide investment services in the jurisdiction which issued the alert or warning. Some of the alerts or warnings are about unauthorized firms using names similar to those of authorized firms or about unauthorized firms falsely claiming to be associated with authorized firms. The alerts and warnings included in the link is provided by IOSCO members on a voluntary basis. The contents of the alerts and warnings are the responsibility of the IOSCO member which issues them. This is not a complete list of all alerts and warnings from all IOSCO members. The date next to the name of the IOSCO member is the date when the alert or warning was posted on this list. By clicking on the date you will be directed to the text of the alert or warning on the IOSCO member's web page. You should look at the IOSCO member's web page to get all the relevant information.”


http://www.iosco.org/investor_protection/?subsection=investor_alerts_portal