Ms. Dimana Rankova, Deputy Chairperson of the FSC, Head of the Investment Supervision Division, has refused to delete ZSK LOZOVO PLC, Burgas, as a public company from the Public Companies and Other Issuers of Securities Register kept by the FSC.
The complete text of Resolution No. 224 may be found under the Documentation Section.
Warning to potential investors and all stakeholders
The Financial Supervision Commission (FSC) pursues a consistent policy to protect the interests of consumers of financial services and prevent the performance of investment activities and services by unlicensed entities.
Mr. Boyko Atanasov, Chairman of the FSC, indicated to the public that a significant number of complaints have been received from Bulgarian citizens who claim to have lost money as a result of fraud by companies named Grand Spot Market EOOD, Post Grand Research EOOD (formerly Grand Research EOOD), Grand Eastern Market EOOD, Market Progress EOOD, Mini-Market 1920 EOOD, Super-Market 2020 EOOD, Global Strategy EAD, Post Fin Engineering Income EOOD (formerly Fin Engineering Inc EOOD) and Verginia FinCorp EOOD. The Commission warns consumers and the public that these companies do not have a license issued by the FSC for the provision of investment services and / or investment activities within the meaning of Art. 6 of the Markets in Financial Instruments Act (MFIA). Therefore these companies are not entitled to carry out such activities on the territory of the Republic of Bulgaria, as well as to receive funds in their bank accounts in order to invest them in financial instruments. At present, the following websites have been established, which are connected with Grand Spot Market EOOD and Grand Eastern Market EOOD: https://grandspotmarket.com, https://grandeasternmarket.com.
The provision of investment services and the performance of investment activities may be carried out only by a joint stock company or a limited liability company with registered office and address of management in the Republic of Bulgaria, which has a license to operate as an investment firm under the terms and conditions of the MFIA. In this context, on the territory of the Republic of Bulgaria investment services can be provided only by:
– investment intermediaries licensed by the FSC;
– investment intermediaries – banks licensed by the BNB;
– investment intermediaries licensed by the competent authorities of other Member States of the European Union and providing investment services on the territory of the Republic of Bulgaria in accordance with the law (Chapter 4, Section II of the MFIA);
– investment intermediaries from a third country, providing investment services on the territory of the Republic of Bulgaria in accordance with the law (Chapter 4, Section III of the MFIA)
The FSC draws the attention of potential investors to the fact that before transferring funds for trading in financial instruments, they should always check on the FSC website whether the person on whose account they intend to make the transfer has the right to provide investment services and / or perform investment activities. As an indication that the potential investor is the subject of fraud is the fact that the name of the company specified in the contract as an investment firm, which in some cases may be identical to a licensed one, differs from the name of the company on whose account the funds should be transferred. Aggressive commercial practices, such as persistent and unsolicited commercial communications to potential investors by telephone and e-mail, are often used.
Licensed investment intermediaries can be verified on the FSC website – http://www.fsc.bg and / or on the websites of the competent authorities of the European Union, as well as on the website of the European Securities and Markets Authority (ESMA) – https://www.esma.europa.eu/. The FSC website also has a list of investment intermediaries that have notified the Financial Supervision Commission of their intention to provide financial services in the territory of the Republic of Bulgaria. Trading through an intermediary that does not appear on these lists means that said intermediary operates illegally without meeting the necessary regulatory and supervisory requirements, which in turn leads to a lack of security for the funds invested.
In view of international awareness, Mr. Boyko Atanasov stressed that information about companies and platforms for which negative information is available can be found on the websites of:
– ESMA- https://www.esma.europa.eu/investor-corner/warning-and-publications-investors/;
– International Organization of Securities Commission (IOSCO) – – www.iosco.org/investor_protection/?subsection=investor_alerts_portal.
Warning to potential investors
The Financial Supervision Commission (FSC) pursues consistent policy of protecting the interests of financial services users, as well as preventing unauthorized companies from performing investment activities and/оr investment services.
Numerous complaints have been filed with the FSC against the following companies: “Grand Spot Market” EOOD, “Post Grand Research” EOOD (previously named “Grand Research” EOOD), “Grand Eastern Market EOOD”, “Market Progress EOOD”, “Mini-Market 1920” EOOD, “Super-Market 2020” EOOD, “Global Strategy” EAD, “Post Fin Engineering Income” EOOD (previously named “Fin Engineering Income” EOOD) and “Virginia FinCorp” EOOD. At present, the following websites related to “Grand Spot Market” EOOD and “Grand Eastern Market” EOOD have been identified: https://grandspotmarket.com and https://grandeasternmarket.com.
The FSC warns users, potential investors and the public that the abovementioned companies have not been granted any licence for acting as investment intermediaries under the provisions of Art. 6 of the Markets in Financial Instruments Act. Therefore, those companies are not entitled to carry out investment services and/or investment activities on the territory of the Republic of Bulgaria; neither they are authorised to receive any funds on their bank accounts for the purpose of investing them in financial instruments.
Investment services may be provided and investment activities may be performed solely by a joint-stock company or a limited liability company with registered office or headquarter on the territory of the Republic of Bulgaria. Such companies must be granted a licence for acting as investment intermediaries under the provisions of the Markets in Financial Instruments Act. Within the context of the above, investment services and activities on the territory of the Republic of Bulgaria might be performed by:
- Investment intermediaries licensed by the FSC;
- Investment intermediaries – banks licensed by the Bulgarian National Bank;
- Investment intermediaries licensed by competent authorities of other EEA member states which provide investment services on the territory of the Republic of Bulgaria according with Chapter 4, Section II of the Markets in Financial Instruments Act;
- Investment intermediaries from third countries providing investment services on the territory of the Republic of Bulgaria in accordance with Chapter 4, Section III of the Markets in Financial Instruments Act.
The FSC warns potential investors that before transferring funds they should always check the FSC’s website to make sure that the company they are dealing with has all permissions for the regulated services and activities. A typical indication of a fraudulent behavior for the potential investors is the circumstance that the company indicated in the contract as investment intermediary differs from the company on whose account the respective funds should be transferred. Also, aggressive marketing practices are frequently used i.e. unsolicited emails and/or cold calls to the potential investors.
A List of the licensed investment firms is available on the FSC’s website, namely: http://www.fsc.bg/ and/or on the websites of the respective EEA competent authorities, as well as on the internet site of the European Securities and Markets Authority (ESMA) – https://www.esma.europa.eu/.
A List of investment intermediaries which have notified FSC about their intention to provide investment services on the territory of the Republic of Bulgaria is also available on the FSC’s website at: https://www.fsc.bg/bg/podnadzorni-litsa/notifikatsii/notifikatsii-polucheni-v-kfn/.
Trading via an intermediary which is not included in the Lists mentioned above means that the latter carries out its activity unlawfully i.e. without the licence required for this purpose. Hence, the investor is not protected and is not covered by the protection mechanism provided by the Investor Compensation Fund in Bulgaria.
Further, potential investors can check the sites of ESMA – https://www.esma.europa.eu/investor-corner/warning-and-publications-investors/, and the International Organization of Securities Commission (IOSCO) – www.iosco.org/investor_protection/?subsection=investor_alerts_portal for warnings about possible scams.
A List of the licensed investment firms is available on the FSC’s website, namely: http://www.fsc.bg/ and/or on the websites of the respective EEA competent authorities, as well as on the internet site of the European Securities and Markets Authority (ESMA) – https://www.esma.europa.eu/.
A List of investment intermediaries which have notified FSC about their intention to provide investment services on the territory of the Republic of Bulgaria is also available on the FSC’s website at: https://www.fsc.bg/bg/podnadzorni-litsa/notifikatsii/notifikatsii-polucheni-v-kfn/.
Trading via an intermediary which is not included in the Lists mentioned above means that the latter carries out its activity unlawfully i.e. without the licence required for this purpose. Hence, the investor is not protected and is not covered by the protection mechanism provided by the Investor Compensation Fund in Bulgaria.
Further, potential investors can check the sites of ESMA – https://www.esma.europa.eu/investor-corner/warning-and-publications-investors/, and the International Organization of Securities Commission (IOSCO) – www.iosco.org/investor_protection/?subsection=investor_alerts_portal for warnings about possible scams.
Warning to potential investors
The Financial Supervision Commission (FSC) pursues consistent policy of protecting the interests of financial services users, as well as preventing unauthorized companies from performing investment activities and/оr investment services.
Numerous complaints have been filed with the FSC against the following companies: “Grand Spot Market” EOOD, “Post Grand Research” EOOD (previously named “Grand Research” EOOD), “Grand Eastern Market EOOD”, “Market Progress EOOD”, “Mini-Market 1920” EOOD, “Super-Market 2020” EOOD, “Global Strategy” EAD, “Post Fin Engineering Income” EOOD (previously named “Fin Engineering Income” EOOD) and “Virginia FinCorp” EOOD. At present, the following websites related to “Grand Spot Market” EOOD and “Grand Eastern Market” EOOD have been identified: https://grandspotmarket.com and https://grandeasternmarket.com.
The FSC warns users, potential investors and the public that the abovementioned companies have not been granted any licence for acting as investment intermediaries under the provisions of Art. 6 of the Markets in Financial Instruments Act. Therefore, those companies are not entitled to carry out investment services and/or investment activities on the territory of the Republic of Bulgaria; neither they are authorised to receive any funds on their bank accounts for the purpose of investing them in financial instruments.
Investment services may be provided and investment activities may be performed solely by a joint-stock company or a limited liability company with registered office or headquarter on the territory of the Republic of Bulgaria. Such companies must be granted a licence for acting as investment intermediaries under the provisions of the Markets in Financial Instruments Act. Within the context of the above, investment services and activities on the territory of the Republic of Bulgaria might be performed by:
- Investment intermediaries licensed by the FSC;
- Investment intermediaries – banks licensed by the Bulgarian National Bank;
- Investment intermediaries licensed by competent authorities of other EEA member states which provide investment services on the territory of the Republic of Bulgaria according with Chapter 4, Section II of the Markets in Financial Instruments Act;
- Investment intermediaries from third countries providing investment services on the territory of the Republic of Bulgaria in accordance with Chapter 4, Section III of the Markets in Financial Instruments Act.
The FSC warns potential investors that before transferring funds they should always check the FSC’s website to make sure that the company they are dealing with has all permissions for the regulated services and activities. A typical indication of a fraudulent behavior for the potential investors is the circumstance that the company indicated in the contract as investment intermediary differs from the company on whose account the respective funds should be transferred. Also, aggressive marketing practices are frequently used i.e. unsolicited emails and/or cold calls to the potential investors.
A List of the licensed investment firms is available on the FSC’s website, namely: http://www.fsc.bg/ and/or on the websites of the respective EEA competent authorities, as well as on the internet site of the European Securities and Markets Authority (ESMA) – https://www.esma.europa.eu/.
A List of investment intermediaries which have notified FSC about their intention to provide investment services on the territory of the Republic of Bulgaria is also available on the FSC’s website at: https://www.fsc.bg/bg/podnadzorni-litsa/notifikatsii/notifikatsii-polucheni-v-kfn/.
Trading via an intermediary which is not included in the Lists mentioned above means that the latter carries out its activity unlawfully i.e. without the licence required for this purpose. Hence, the investor is not protected and is not covered by the protection mechanism provided by the Investor Compensation Fund in Bulgaria.
Further, potential investors can check the sites of ESMA – https://www.esma.europa.eu/investor-corner/warning-and-publications-investors/, and the International Organization of Securities Commission (IOSCO) – www.iosco.org/investor_protection/?subsection=investor_alerts_portal for warnings about possible scams.
A List of the licensed investment firms is available on the FSC’s website, namely: http://www.fsc.bg/ and/or on the websites of the respective EEA competent authorities, as well as on the internet site of the European Securities and Markets Authority (ESMA) – https://www.esma.europa.eu/.
A List of investment intermediaries which have notified FSC about their intention to provide investment services on the territory of the Republic of Bulgaria is also available on the FSC’s website at: https://www.fsc.bg/bg/podnadzorni-litsa/notifikatsii/notifikatsii-polucheni-v-kfn/.
Trading via an intermediary which is not included in the Lists mentioned above means that the latter carries out its activity unlawfully i.e. without the licence required for this purpose. Hence, the investor is not protected and is not covered by the protection mechanism provided by the Investor Compensation Fund in Bulgaria.
Further, potential investors can check the sites of ESMA – https://www.esma.europa.eu/investor-corner/warning-and-publications-investors/, and the International Organization of Securities Commission (IOSCO) – www.iosco.org/investor_protection/?subsection=investor_alerts_portal for warnings about possible scams.
Warning to potential investors
The Financial Supervision Commission of the Republic of Bulgaria warns all potential investors that Infinitrade, operating through the website www.infinitrade.com, does not have a license for an investment firm and is not entitled to carry out investment activities.
The Financial Supervision Commission (FSC) of the Republic of Bulgaria warns all potential investors that Infinitrade, operating through the website www.infinitrade.com and the companies A&I Products EOOD and A&I Products EOOD do not have a license issued by the FSC or by a competent authority of another Member State to act as an investment firm and are not entitled to provide investment services and / or to carry out investment activities. The listed companies are not entitled to receive money from individuals for the purpose of investing them in financial instruments.
The FSC draws the attention of potential investors to the fact that before transferring funds for trading in financial instruments, they should always check on the FSC website whether the person on whose account they intend to make the transfer has the right to provide investment services and / or perform investment activities.
An up-to-date list of companies that do not have a license to operate as an investment firm or management company in the territory of the Republic of Bulgaria is available here.
Information on companies and platforms for which information is available that they are not licensed can also be found on the websites of:
ESMA – https://www.esma.europa.eu/investor-corner/warning-and-publications-investors/;
International Organization of Securities Commission (IOSCO) – www.iosco.org/investor_protection/?subsection=investor_alerts_portal.
WARNING REGARDING TIGER ASSET MANAGEMENT LLC, BULGARIA
The Financial Supervision Commission (FSC) of the Republic of Bulgaria warns the potential investors and all the stakeholders of the following:
TIGER ASSET MANAGEMENT LLC BULGARIA and TIGER ASSET MANAGEMENT GMBH, AUSTRIA are not entitled to provide investment services and conduct investment activity on the territory of the Republic of Bulgaria, as well as on the territory of other Member States of the European Union, namely they are not entitled to accept clients’ orders and to conclude transactions in financial instruments in the name and on the account of clients. Those entities should be distinguished from TIGER ASSET MANAGEMENT GMBH, GERMANY, which is a regulated investment firm.
The companies
TIGER ASSET MANAGEMENT LLC BULGARIA, UIC 203323943 with headquarters and management address in Sofia, residential area “Manastirski livadi – Zapad”, 38 Maistor Alexi Rilec Str., fl. 3, www.tigerassetmanagement.net, with sole shareholder and manager Mr. Ivaylo Plamenov Sotirov,
and
TIGER ASSET MANAGEMENT GMBH, AUSTRIA, registered in address in Austria, A-1010 Vienna, Bauernmarkt 8, www.tigerassetmanagement.net
Are not licensed by the FSC or the competent authority of another Member State to conduct activity as an investment firm and are not entitled to provide investment services and conduct investment activities under Art. 5 para 2 and 3 of the Markets in Financial Instruments Act as well as on the territory of the Republic of Bulgaria or any other Member State.
Investors and potential investors should bear in mind that the names of the indicated companies TIGER ASSET MANAGEMENT” LLC BULGARIA and TIGER ASSET MANAGEMENT GMBH, AUSTRIA resemble the name of the licensed and regulated by the supervisory authority of Germany BUNDESANSTALT FÜR FINANZDIENSTLEISTUNGSAUFSICHT (BaFin) management company TIGER ASSET MANAGEMENT GMBH, Germany.
TIGER ASSET MANAGEMENT GMBH, Germany is a management company, licensed and regulated by BUNDESANSTALT FÜR FINANZDIENSTLEISTUNGSAUFSICHT (BaFin). The company is registered at the following address – Neuer Wall 35,20354 Hamburg, Germany (www.tiger-am.com/en) and has an established branch on the territory of Switzerland (branch address – Kantonstrasse 162, 8807 Freienbach, Switzerland). TIGER ASSET MANAGEMENT GMBH, Germany does not conduct activity on the territory of the Republic of Bulgaria and does not provide services to nonprofessional clients.
TIGER ASSET MANAGEMENT LLC BULGARIA and TIGER ASSET MANAGEMENT GMBH, AUSTRIA ARE NOT the same company and ARE NOT related companies to TIGER ASSET MANAGEMENT GMBH, GERMANY.
Investment services and investment activities on the territory of the Republic of Bulgaria may only be provided by:
-companies, licensed by the FSC under the terms of the Markets in Financial Instruments Act for the conduct of activity as an investment firm;
-bank, which received the relevant license by the BNB and listed as an investment firm in the register kept by the FSC;
-companies, which received a license for the conduct of activity as a management company under the terms of the Law on the Activities of Collective Investment Schemes and Other Collective Investment Undertakings;
– companies, which received a license by a competent authority of another Member State for the conduct of activity as an investment firm and for which a notification was submitted at the FSC by the relevant supervisory authority.
Furthermore, investors should take into consideration that companies, licensed as investment firms in countries outside the European Union may not provide investment services on the territory of the Republic of Bulgaria without possessing a permit issued by the FSC for this purpose and without being listed in the register kept by the FSC.
A list of the investment firms and the management companies licensed by the FSC is available on the website of the FSC ( www.fsc.bg ) in section “Electronic register (ERiK)” at the following address: http://212.122.187.59/public/index.php?lang=bg and
http://www.fsc.bg/en/markets/capital-market/lists-of-supervised-entities/investment-intermediaries/
A list of the investment firms from Member States which are allowed to provide investment services and to conduct investment activities on the territory of the Republic of Bulgaria is available on the website of the FSC on the following address: http://www.fsc.bg/bg/podnadzorni-litsa/notifikatsii/notifikatsii-polucheni-v-kfn/
Investors should bear in mind that when concluding transactions for the provision of investment services and making orders for the conclusion of transactions in financial instruments with companies which are not licensed by the FSC or by the relevant competent authority of another Member State, the potential investors might be deceived and bear significant financial losses.
The provided funds by the investment firms which are not licensed and respectively, controlled by the FSC, are not guaranteed by the Fund for compensation of the investors in securities.
Signals and complaints connected with the activity of TIGER ASSET MANAGEMENT LLC, BULGARIA you might submit to the following address of the Financial Supervision Commission – Sofia, 16 Budapeshta Str. or at e-mail address: delovodstvo@fsc.bg.
TIGER ASSET MANAGEMENT LLC BULGARIA and TIGER ASSET MANAGEMENT GMBH, AUSTRIA are not entitled to provide investment services and conduct investment activity on the territory of the Republic of Bulgaria, as well as on the territory of other Member States of the European Union, namely they are not entitled to accept clients’ orders and to conclude transactions in financial instruments in the name and on the account of clients. Those entities should be distinguished from TIGER ASSET MANAGEMENT GMBH, GERMANY, which is a regulated investment firm.
The companies
TIGER ASSET MANAGEMENT LLC BULGARIA, UIC 203323943 with headquarters and management address in Sofia, residential area “Manastirski livadi – Zapad”, 38 Maistor Alexi Rilec Str., fl. 3, www.tigerassetmanagement.net, with sole shareholder and manager Mr. Ivaylo Plamenov Sotirov,
and
TIGER ASSET MANAGEMENT GMBH, AUSTRIA, registered in address in Austria, A-1010 Vienna, Bauernmarkt 8, www.tigerassetmanagement.net
Are not licensed by the FSC or the competent authority of another Member State to conduct activity as an investment firm and are not entitled to provide investment services and conduct investment activities under Art. 5 para 2 and 3 of the Markets in Financial Instruments Act as well as on the territory of the Republic of Bulgaria or any other Member State.
Investors and potential investors should bear in mind that the names of the indicated companies TIGER ASSET MANAGEMENT” LLC BULGARIA and TIGER ASSET MANAGEMENT GMBH, AUSTRIA resemble the name of the licensed and regulated by the supervisory authority of Germany BUNDESANSTALT FÜR FINANZDIENSTLEISTUNGSAUFSICHT (BaFin) management company TIGER ASSET MANAGEMENT GMBH, Germany.
TIGER ASSET MANAGEMENT GMBH, Germany is a management company, licensed and regulated by BUNDESANSTALT FÜR FINANZDIENSTLEISTUNGSAUFSICHT (BaFin). The company is registered at the following address – Neuer Wall 35,20354 Hamburg, Germany (www.tiger-am.com/en) and has an established branch on the territory of Switzerland (branch address – Kantonstrasse 162, 8807 Freienbach, Switzerland). TIGER ASSET MANAGEMENT GMBH, Germany does not conduct activity on the territory of the Republic of Bulgaria and does not provide services to nonprofessional clients.
TIGER ASSET MANAGEMENT LLC BULGARIA and TIGER ASSET MANAGEMENT GMBH, AUSTRIA ARE NOT the same company and ARE NOT related companies to TIGER ASSET MANAGEMENT GMBH, GERMANY.
Investment services and investment activities on the territory of the Republic of Bulgaria may only be provided by:
-companies, licensed by the FSC under the terms of the Markets in Financial Instruments Act for the conduct of activity as an investment firm;
-bank, which received the relevant license by the BNB and listed as an investment firm in the register kept by the FSC;
-companies, which received a license for the conduct of activity as a management company under the terms of the Law on the Activities of Collective Investment Schemes and Other Collective Investment Undertakings;
– companies, which received a license by a competent authority of another Member State for the conduct of activity as an investment firm and for which a notification was submitted at the FSC by the relevant supervisory authority.
Furthermore, investors should take into consideration that companies, licensed as investment firms in countries outside the European Union may not provide investment services on the territory of the Republic of Bulgaria without possessing a permit issued by the FSC for this purpose and without being listed in the register kept by the FSC.
A list of the investment firms and the management companies licensed by the FSC is available on the website of the FSC ( www.fsc.bg ) in section “Electronic register (ERiK)” at the following address: http://212.122.187.59/public/index.php?lang=bg and
http://www.fsc.bg/en/markets/capital-market/lists-of-supervised-entities/investment-intermediaries/
A list of the investment firms from Member States which are allowed to provide investment services and to conduct investment activities on the territory of the Republic of Bulgaria is available on the website of the FSC on the following address: http://www.fsc.bg/bg/podnadzorni-litsa/notifikatsii/notifikatsii-polucheni-v-kfn/
Investors should bear in mind that when concluding transactions for the provision of investment services and making orders for the conclusion of transactions in financial instruments with companies which are not licensed by the FSC or by the relevant competent authority of another Member State, the potential investors might be deceived and bear significant financial losses.
The provided funds by the investment firms which are not licensed and respectively, controlled by the FSC, are not guaranteed by the Fund for compensation of the investors in securities.
Signals and complaints connected with the activity of TIGER ASSET MANAGEMENT LLC, BULGARIA you might submit to the following address of the Financial Supervision Commission – Sofia, 16 Budapeshta Str. or at e-mail address: delovodstvo@fsc.bg.
WARNING REGARDING TIGER ASSET MANAGEMENT
WARNING
regarding
TIGER ASSET MANAGEMENT LLC, BULGARIA
and
TIGER ASSET MANAGEMENT GMBH, AUSTRIA
regarding
TIGER ASSET MANAGEMENT LLC, BULGARIA
and
TIGER ASSET MANAGEMENT GMBH, AUSTRIA
The Financial Supervision Commission (FSC) of the Republic of Bulgaria warns the potential investors and all the stakeholders of the following:
TIGER ASSET MANAGEMENT LLC BULGARIA and TIGER ASSET MANAGEMENT GMBH, AUSTRIA are not entitled to provide investment services and conduct investment activity on the territory of the Republic of Bulgaria, as well as on the territory of other Member States of the European Union, namely they are not entitled to accept clients’ orders and to conclude transactions in financial instruments in the name and on the account of clients. Those entities should be distinguished from TIGER ASSET MANAGEMENT GMBH, GERMANY, which is a regulated investment firm.
The companies
TIGER ASSET MANAGEMENT LLC BULGARIA, UIC 203323943 with headquarters and management address in Sofia, residential area “Manastirski livadi – Zapad”, 38 Maistor Alexi Rilec Str., fl. 3, www.tigerassetmanagement.net, with sole shareholder and manager Mr. Ivaylo Plamenov Sotirov,
and
TIGER ASSET MANAGEMENT GMBH, AUSTRIA, registered in address in Austria, A-1010 Vienna, Bauernmarkt 8, www.tigerassetmanagement.net
Are not licensed by the FSC or the competent authority of another Member State to conduct activity as an investment firm and are not entitled to provide investment services and conduct investment activities under Art. 5 para 2 and 3 of the Markets in Financial Instruments Act as well as on the territory of the Republic of Bulgaria or any other Member State.
Investors and potential investors should bear in mind that the names of the indicated companies TIGER ASSET MANAGEMENT” LLC BULGARIA and TIGER ASSET MANAGEMENT GMBH, AUSTRIA resemble the name of the licensed and regulated by the supervisory authority of Germany BUNDESANSTALT FÜR FINANZDIENSTLEISTUNGSAUFSICHT (BaFin) management company TIGER ASSET MANAGEMENT GMBH, Germany.
TIGER ASSET MANAGEMENT GMBH, Germany is a management company, licensed and regulated by BUNDESANSTALT FÜR FINANZDIENSTLEISTUNGSAUFSICHT (BaFin). The company is registered at the following address – Neuer Wall 35,20354 Hamburg, Germany (www.tiger-am.com/en) and has an established branch on the territory of Switzerland (branch address – Kantonstrasse 162, 8807 Freienbach, Switzerland). TIGER ASSET MANAGEMENT GMBH, Germany does not conduct activity on the territory of the Republic of Bulgaria and does not provide services to nonprofessional clients.
TIGER ASSET MANAGEMENT LLC BULGARIA and TIGER ASSET MANAGEMENT GMBH, AUSTRIA ARE NOT the same company and ARE NOT related companies to TIGER ASSET MANAGEMENT GMBH, GERMANY.
Investment services and investment activities on the territory of the Republic of Bulgaria may only be provided by:
-companies, licensed by the FSC under the terms of the Markets in Financial Instruments Act for the conduct of activity as an investment firm;
-bank, which received the relevant license by the BNB and listed as an investment firm in the register kept by the FSC;
-companies, which received a license for the conduct of activity as a management company under the terms of the Law on the Activities of Collective Investment Schemes and Other Collective Investment Undertakings;
– companies, which received a license by a competent authority of another Member State for the conduct of activity as an investment firm and for which a notification was submitted at the FSC by the relevant supervisory authority.
Furthermore, investors should take into consideration that companies, licensed as investment firms in countries outside the European Union may not provide investment services on the territory of the Republic of Bulgaria without possessing a permit issued by the FSC for this purpose and without being listed in the register kept by the FSC.
A list of the investment firms and the management companies licensed by the FSC is available on the website of the FSC ( www.fsc.bg ) in section “Electronic register (ERiK)” at the following address: http://212.122.187.59/public/index.php?lang=bg and
http://www.fsc.bg/en/markets/capital-market/lists-of-supervised-entities/investment-intermediaries/
A list of the investment firms from Member States which are allowed to provide investment services and to conduct investment activities on the territory of the Republic of Bulgaria is available on the website of the FSC on the following address: http://www.fsc.bg/bg/podnadzorni-litsa/notifikatsii/notifikatsii-polucheni-v-kfn/
Investors should bear in mind that when concluding transactions for the provision of investment services and making orders for the conclusion of transactions in financial instruments with companies which are not licensed by the FSC or by the relevant competent authority of another Member State, the potential investors might be deceived and bear significant financial losses.
The provided funds by the investment firms which are not licensed and respectively, controlled by the FSC, are not guaranteed by the Fund for compensation of the investors in securities.
Signals and complaints connected with the activity of TIGER ASSET MANAGEMENT LLC, BULGARIA you might submit to the following address of the Financial Supervision Commission – Sofia, 16 Budapeshta Str. or at e-mail address: delovodstvo@fsc.bg.
WARNING
The Financial Supervision Commission (FSC) of the Republic of Bulgaria has issued a warning to investors concerning the offering of services without the requisite license by UT Markets, an entity operating trough the website http://www.utmarkets.com/, as well as its related companies – CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. In this regard, as well as due to the numerous reports and complaints received, the FSC further informs that an inspection of the activity carried out in the Republic of Bulgaria by UT Markets and the companies related with this platform, is under way.
Within the framework of this inspection there are no impounded amounts of cash and/or blocked bank accounts of persons inspected by the FSC. The FSC does not prohibit persons associated with UT Markets, CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. to restore monies to their counterparts. In this regard, the FSC draws special attention to the fact that such inspection aims to establish only whether the inspected companies have been engaged in any illegal activity on the territory of the Republic of Bulgaria, in violation of the Markets in Financial Instruments Act. Therefore, the actions of the inspection team are not and could not be used as a justification of a refusal on behalf of UT Markets, CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. to restore monies to damaged persons.
Within the framework of this inspection there are no impounded amounts of cash and/or blocked bank accounts of persons inspected by the FSC. The FSC does not prohibit persons associated with UT Markets, CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. to restore monies to their counterparts. In this regard, the FSC draws special attention to the fact that such inspection aims to establish only whether the inspected companies have been engaged in any illegal activity on the territory of the Republic of Bulgaria, in violation of the Markets in Financial Instruments Act. Therefore, the actions of the inspection team are not and could not be used as a justification of a refusal on behalf of UT Markets, CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. to restore monies to damaged persons.
WARNING
The Financial Supervision Commission (FSC) of the Republic of Bulgaria has issued a warning to investors concerning the offering of services without the requisite license by UT Markets, an entity operating trough the website http://www.utmarkets.com/, as well as its related companies – CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. In this regard, as well as due to the numerous reports and complaints received, the FSC further informs that an inspection of the activity carried out in the Republic of Bulgaria by UT Markets and the companies related with this platform, is under way.
Within the framework of this inspection there are no impounded amounts of cash and/or blocked bank accounts of persons inspected by the FSC. The FSC does not prohibit persons associated with UT Markets, CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. to restore monies to their counterparts. In this regard, the FSC draws special attention to the fact that such inspection aims to establish only whether the inspected companies have been engaged in any illegal activity on the territory of the Republic of Bulgaria, in violation of the Markets in Financial Instruments Act. Therefore, the actions of the inspection team are not and could not be used as a justification of a refusal on behalf of UT Markets, CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. to restore monies to damaged persons.
Within the framework of this inspection there are no impounded amounts of cash and/or blocked bank accounts of persons inspected by the FSC. The FSC does not prohibit persons associated with UT Markets, CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. to restore monies to their counterparts. In this regard, the FSC draws special attention to the fact that such inspection aims to establish only whether the inspected companies have been engaged in any illegal activity on the territory of the Republic of Bulgaria, in violation of the Markets in Financial Instruments Act. Therefore, the actions of the inspection team are not and could not be used as a justification of a refusal on behalf of UT Markets, CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. to restore monies to damaged persons.
Voluntary winding-up of Hugo Insurance Lines Limited
news…