The Kanto finance bureau of Japan’s Ministry of Finance (MoF) has published a warning on its website cautioning potential investors against a financial entity called IVA Gold Ltd.
The company, which according Kanto’s statement is located at 121 Bishopsgate, London, England, operates a binary options brokerage under the banner of Banco Capital.
Banco Capital, which operates online via www.banco-capital.com, also lists a registered address at Sofia Parliament, 5th & 6th Floor, Landmark Building, 14 Tsar Osvoboditel Blvd., Sofia, Bulgaria.
The brokerage offers trading on a variety of assets including currencies, commodities, stocks and indices but a glance at the website raised some concerns as to the transparency of the firm, although it does appear to be governed by perhaps one of the lesser known ‘self-regulatory’ authorities based in Russia, known as FFMRC (Financial Market Relations Regulation Centre).
Legal Risk Factor Beneath Ripple’s Lawsuit from SECGo to article >>
Nevertheless, Banco Capital has been added to the watchdog’s list of financial service providers who have solicited their services to Japanese investors but are not authorised to do so in Japan due to the absence of registration.
Back in May, Kanto also added HighTrade FX to its warning list, for attempting to solicit traders via the internet and conducting over-the-counter derivative transactions, as part of the agency’s efforts to clamp down on unauthorised trading.
Besides not having the required licences in Japan, Kanto has warned that the information obtained from the associated solicitation materials may be inaccurate and that the addresses provided may be false.
Investors can check on the Japanese Financial Services Authority (JFSA) website to confirm if a company is registered and regulated in the country. Customers are not afforded the protections available to firms properly licensed and regulated in Japan.