Fake Investment Firms Falsely Claim Belgian Regulation, FSMA Warns

On November 14, the Belgian Financial Services and Markets Authority (FSMA) issued a warning urging investors to be vigilant against recently emerged fraudulent investment firms.

The FSMA identified seven entities impersonating regulated brokers and misleading investors with fake certificates:

Name	Website	Screenshot of homepage
Aether Groups Inc.	aethergroups.com
Alphixmine Incorporation	alphixmine.com
B-Smartfolio Inc.	b-smartfolio.com
Dreamquest Ltd.	dreamquestlimited.com	/
Maxi Wealth Inc.	maxi-wealth.org
Mediterranean Holdings Limited	mediterraneanholdings.com	/
Rexivea Miners Inc.	/	/

According to the regulator, these companies displayed forged financial certificates on their websites and claimed that the certificates had been issued by the FSMA when dealing with consumers.

In its warning, the FSMA presented a sample of a fake certificate and emphasized that the document was “fraudulent”—it had neither been issued by the FSMA nor received the regulator’s consent. The companies in question are not registered with the FSMA and do not hold the necessary authorization to provide financial services in Belgium; they are therefore suspected of committing investment fraud.

Meanwhile, the FSMA reiterated that it has no authority to recover investment losses or seek compensation for investors. It will never request payment of fees or taxes, nor will it contact investors regarding such matters. The regulator said: "The FSMA will also never ask consumers to provide their financial information or to pay for any services. "

BrokersView reminds you

The Belgian Financial Services and Markets Authority (FSMA) was established on April 1, 2011, and jointly regulates the country's financial sector with the National Bank of Belgium (NBB).

Click here to find more FSMA-regulated brokers.