Belgian market authority issues warning against boiler rooms

Belgium’s financial services and markets authority (FSMA) has warned the public against the activities of various “boiler rooms” and of a “recovery room” that are contacting Belgian consumers.

A number of investment firms or credit institutions have been operating without the approval of FSMA. These includes :

  • Alfa One Corporation, The Southwood Group and Micron Associates
  • Apex Equities, South-East Asia Traders and South-East Asia Registrar
  • Asia Pacific Brokerage Services Limited
  • Bow Financial
  • Earnest & Medwell International
  • Fuji Credit Asset Management (Fuji Credit J-LLC)
  • Gemini Acquisitions and Escrow Service Group
  • Gerard & Alterman (G&A) (cloned firm)
  • Hoover Bright Independent Finance Advisor and CC Manuel Trading
  • Mitsui Credit Global (Mitsui Credits), Resona Corporate Partners, Franklin Transfer Services, Ming Fu (HK) Industrial Limited, EKL International CO., Limited, Hadid Ravan CO., Limited and Bauway Technology Limited
  • Nippon Holdings (Nippon Capital Asset Management), Osaka Financial, Franklin Transfer Services, Able Century Limited and Glory Jet Limited

FSMA said these “boiler rooms” appear to be targeting company managers and directors in particular and advised against responding to any offer made by these companies.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco.
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