Japan Financial Services Agency (JFSA) raised alerts over unregistered financial services. JFSA added 3 overseas operators to the list of unregulated operators in Japan.
The newly added operators are below and 2 of them are based in Cyprus, and the other is in Hong Kong. Only GEM-TRADE Co.,Ltd reveals the name of its CEO, Keith Fitzwilliam. The remaining two companies don’t disclose the names. All of them are considered to solicit Japanese people to trade OTC derivative products over internet until at least as of the date JFSA issued warning notifications.
The number of unregistered foreign operators on the list now totals 169 since January, 2011.
- GEM-TRADE Co.,Ltd (service name: XGLOBAL)
- Atlas Capital Financial Services Limited (service name: ACFX)
- X GLOBAL Markets Ltd (service name: GEMFOREX)
(Source: Japan Financial Services Agency)