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

Unidentified

Unidentified

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

2

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.

3

Unidentified

Unidentified

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

4

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.

5

​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.

6

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”.

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