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

Staxom

Disclosure summary

Disclosure matching Website matching
Disclosure time 2024-08-01

Disclosure details

Staxom – Suspected scam, unreasonably withholding client funds

We understand Staxom provides trading services in forex and stocks. Staxom’s operation has the hallmarks of scams, in particular: they unreasonably withhold client funds; they ask investors to pay endless fees for funds withdrawal; they cease communication with investors when investors refuse to pay the fees; and they offer unrealistic return on investment. We are aware of a New Zealand resident who was convinced to invest with Staxom by a person they met on social media. The investor is not able to withdraw funds they invested even after paying the fees required. Staxom is not registered to provide financial services in New Zealand. It is therefore operating in breach of New Zealand financial markets legislation. We recommend caution when dealing with Staxom and people who approach you online through social media recommending investment opportunities. Website: staxom.org Emails: support@staxom.org; info@staxom.org

Annex

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More regulatory disclosure

Danger

2023-06-22

Warning regarding unregulated entities