MG Wealth Advisors
Finanstilsynet (The Financial Supervisory Authority of Norway) and the Securities and Futures Commission, Hong Kong warn against investment offers promoted by MG Wealth Advisors.
Finanstilsynet has been informed that MG Wealth Advisors (address: Hong Kong, 9 Queen's Road Central) has approached Norwegian investors offering investment services. The company also offers services from a website http://mgwealthadvisors.com/index.html.
Finanstilsynet wishes to make it clear that MG Wealth Advisors is not authorised to provide investment services in Norway, and therefore lacks the licence required under Norwegian law. The company is consequently not subject to Finanstilsynet’s supervisory oversight, nor has Finanstilsynet approved the services offered by the company. Finanstilsynet therefore recommends investors not to enter into agreements with or transfer assets to MG Wealth Advisors.
Finanstilsynet's registry (http://www.finanstilsynet.no/registry) gives details of all companies authorised to offer investment services in Norway. A list (not complete) of companies operating in the market without a licence can be found on Finanstilsynet's website (http://www.finanstilsynet.no/markedsadvarsler/).
Securities and Futures Commission, Hong Kong
Name: MG Wealth Advisors
Type: Unlicensed entities
Address(es): 9 Queen's Road Central, Central, Hong Kong
Remarks: The company’s Hong Kong address is incomplete. The company is apparently associated with The Sterling Group International, another unlicensed entity on the Alert List.
Add date: 19 Oct 2015
Note: Unlicensed entities often use names similar to legitimate companies to confuse investors.