The CNMV, Spain’s securities markets watchdog, has added investment firm Tiger Asset Management to its warning list. The announcement follows the recent inclusion of unregistered broker IBA Markets to the list in a move to clamp down on the activities of unauthorised financial services entities.
Tiger Asset Management, which operates online under the banner of www.tigerassetmanagement.net and claims to be based in New York, offers a range of services including forex and social trading in a variety of assets.
“Work In Progress”
After a brief overview of the website in question it was evident that there was no access to the company’s trading platform, with the message “work in progress” appearing in its place. Furthermore, Finance Magnates was unable to find any evidence of regulation by any jurisdiction.
In a statement issued today, the CNMV drew attention to the fact that Tiger Asset Management is not authorised to provide the investment services detailed in the Securities Markets Law, which includes investment advice or the provision of auxiliary services including transactions on foreign currency.
The CNMV’s role is to inform investors that investing through non-authorised companies implies a high risk of suffering capital losses since they operate outside the controls of supervisory authorities. Its latest warning on Tiger Asset Management warns the public not to deal with this firm as is not authorised to offer investment services, including forex, in Spain.