Financial Markets Authority

Year 2011Regulated by Government

The Financial markets Authority (FMA) is a New Zealand government agency responsible for enforcing securities, financial reporting and company law as they apply to financial services and securities markets. The FMA also regulates securities exchanges, financial advisers and brokers, auditors, trustees and issuers - including issuers of KiwiSaver and superannuation schemes. It jointly oversees designated settlement systems in New Zealand, with the Reserve Bank of New Zealand (RBNZ). FMA is a member of New Zealand’s Council of Financial Regulators.

Disclose broker

Danger Unauthorized

AFO

Disclosure summary

Disclosure matching Website matching
Disclosure time 2020-09-07
Reason for punishment We are concerned that AFOManagement and www.afomanagement.com, a website it operates, have the hallmarks of a scam. Their representatives have offered a New Zealand investor various allegedly fake financial products and asked the investor to transfer funds into a bank account in the name of a third party below and then withheld the investor’s funds.

Disclosure details

AFOManagement

07 September 2020 AFOManagement SHARE THIS ENTITY NAME: AFOManagement WEBSITE: www.afomanagement.com PHONE: Hong Kong: 00852 8170 0181 United Kingdom: 0044 208 895 6597 New Zealand: 09 88 441 54 Australia: +61 2 9099 1692 EMAIL: info@afomanagement.com support@afomanagement.com REASONS FOR WARNING: We are concerned that AFOManagement and www.afomanagement.com, a website it operates, have the hallmarks of a scam. Their representatives have offered a New Zealand investor various allegedly fake financial products and asked the investor to transfer funds into a bank account in the name of a third party below and then withheld the investor’s funds. The Securities and Futures Commission (SFC) of Hong Kong has cautioned the public about the suspicious website on 20 August 2020, and noted that the website is not associated with AFO Management Limited, which is an SFC-licensed corporation. (SFC alerts, 20 August 2020). Details of the bank account used by AFOManagment are as follows: Beneficiary: L.A.D. Company Limited Beneficiary address: 2A Sai Yeung Choi Street, Mongkok, HongKong Bank name: The Hong Kong and Shanghai Banking Corporation Limited Bank address: 1 Queen's Road Central Hong Kong Account number: 124340761838 Swift code: HSBCHKHHHKH

Annex

Screenshot 1

More regulatory disclosure

Danger

2019-06-10

FCA Warning List of unauthorised firms Skandinaviska Enskilda Banken AB (“SEB”) (clone of EEA authorised firm)