Grammar mistakes

GME Ltd and Stien Schwartz Under the Watchful Eye of Italian Regulator

Both entities have not been authorized to provide financial services in Italy nor in the European Union

The Italian financial regulator CONSOB announced that it has identified a couple of firms which are not authorized to provide services to Italian residents. Since both entities are not authorized in the country, they have no European Union registration that they can passport either.

Prospective clients of these entities have to be wary of a number of statements made on both websites. The website of the first entity GME Ltd, named is highly suspicious due to the multitude of grammar mistakes found on different pages. Such occurrences are typically associated with boiler room schemes and fraudulent brokers.

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The second entity, Stien Schwartz & Partners claims to be based in Italy according to the regulatory warning. The website of the firm, has already been made inaccessible.

Italian authorities have been actively warning investors about newly bred Ponzi schemes and unregulated enterprises. A couple of weeks ago, the Italian Commissione Nazionale per le Società e la Borsa (CONSOB) warned the public against the activities of an unregulated entity providing binary options trading in the country under the name City Equities.

The lack of regulation of an allegedly European company speaks of an entity most likely not qualified to be providing financial services in the region, and for that matter, worldwide. Both companies claim to be based in the E.U. without any supporting evidence for authorization.

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