JFSA-logoJapan Financial Services Agency (JFSA) updated the list of unregistered operators who were issued a warning notification by the authority. This list may help prevent Japanese investors from getting involved in troubles or crimes.

Following operators were added to the list recently;

Overseas Operators

*Added during November and December
  • 365 Online Limited
  • FGX Limited
  • Fuji International Trading & Investment Co., Limited
  • Highlow Markets Pty. Ltd.
  • GSI Investment Incorporated
  • Profit Plan Limited
  • Monkey Trade Karlson

JFSA confirmed that most of above operators conducted unregistered business which solicited people via internet to trade OTC derivative products. However, regarding Profit Plan Limited (CEO: Tetsuo Nakamura), its business is more complex. It was reported that Profit Plan solicited people to open an account at GSI Investment Incorporated that was also added to the list on the same day and asked them to submit a document called “Limited Power of Attorney Form” that gives Profit Plan a discretionary investment decision and manage funds. The address of Profit Plan is P.O.Box 1239, Offshore Incorporations Centre, Victoria, Mahe, Republic of Seychelles, but this address is the same as that of Capital Works Investment Limited which was warned on April 5, 2013.

Japanese Operators

*Added during December
  • 株式会社will be
  • Trade Tools株式会社
  • 株式会社YO経済貿易

For unregistered domestic operators, Trade Tools and Will be were found to operate financial instrument business without appropriate registration through inspection on findedge which registers as Business Operator of Specially Permitted Business for Qualified Institutional Investors, conducted by Kinki Finance Bureau. The two operators managed stock trading or Forex trading on funds of findedge.

The number of unregistered operators on the list now totals 625, consisting of 446 Japanese operators since April, 2010 and 179 overseas operators since January, 2011.

(Source: Financial Service Agency)

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