New Zealand’s FMA Labels JJ Lloyd as Potential Scam
- Hong Kong’s SFC and Austria’s FMA has also warned against the entity.
The Financial Markets Authority (FMA) of New Zealand, the government agency responsible for financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, has added a new entity to its blacklist this Wednesday - JJ Lloyd.
According to the warning, JJ Lloyd, which operates via www.jjlloyd.com, could be involved in a scam. Furthermore, the regulator states that the entity is not registered on the New Zealand Financial Service Providers Register.
Taking a look at its website, JJ Lloyd is an “investment advisor that provides asset management and family office services to families and select institutional investors.”
The entity claims to offer a range of services, such as fixed-income management and strategies, equity management and strategies, hedge funds, real estate, and more.
FMA provides details on JJ Lloyd
The New Zealand watchdog provides the following information on the firm so that consumers can avoid dealing with the company:
ENTITY NAME: JJ Lloyd
DATE: 13/08/2019
TRADING NAME: JJ Lloyd
ADDRESS: 11/F, Lee Garden Two, 28 Yun Ping Road, Causeway Bay, Hong Kong
WEBSITE: https://www.jjlloyd.com/
PHONE: +852 3951 0358
The FMA is not the first regulator to flag JJ Lloyd. In fact, the regulator refers to two previous warnings, one published by the Securities and Futures Commission (SFC) in Hong Kong and one by Austria’s FMA.
Both warnings echo that of New Zealand’s FMA - the entity is not licensed to operate in their respective countries and could, therefore, be a scam.
Specifically, the Austrian regulator said in its warning published at the beginning of the year: “is not entitled to provide investment services in Austria that require a licence. The provider is therefore not permitted to provide commercial investment advice in relation to financial instruments and portfolio management (Article 3 para. 2 nos. 1 and 2 WAG 2018).”
The SFC, on the other hand, has added the entity to its Alert List which is: "a list of entities which have come to the attention of the SFC because they are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong."
The Financial Markets Authority (FMA) of New Zealand, the government agency responsible for financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, has added a new entity to its blacklist this Wednesday - JJ Lloyd.
According to the warning, JJ Lloyd, which operates via www.jjlloyd.com, could be involved in a scam. Furthermore, the regulator states that the entity is not registered on the New Zealand Financial Service Providers Register.
Taking a look at its website, JJ Lloyd is an “investment advisor that provides asset management and family office services to families and select institutional investors.”
The entity claims to offer a range of services, such as fixed-income management and strategies, equity management and strategies, hedge funds, real estate, and more.
FMA provides details on JJ Lloyd
The New Zealand watchdog provides the following information on the firm so that consumers can avoid dealing with the company:
ENTITY NAME: JJ Lloyd
DATE: 13/08/2019
TRADING NAME: JJ Lloyd
ADDRESS: 11/F, Lee Garden Two, 28 Yun Ping Road, Causeway Bay, Hong Kong
WEBSITE: https://www.jjlloyd.com/
PHONE: +852 3951 0358
The FMA is not the first regulator to flag JJ Lloyd. In fact, the regulator refers to two previous warnings, one published by the Securities and Futures Commission (SFC) in Hong Kong and one by Austria’s FMA.
Both warnings echo that of New Zealand’s FMA - the entity is not licensed to operate in their respective countries and could, therefore, be a scam.
Specifically, the Austrian regulator said in its warning published at the beginning of the year: “is not entitled to provide investment services in Austria that require a licence. The provider is therefore not permitted to provide commercial investment advice in relation to financial instruments and portfolio management (Article 3 para. 2 nos. 1 and 2 WAG 2018).”
The SFC, on the other hand, has added the entity to its Alert List which is: "a list of entities which have come to the attention of the SFC because they are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong."