Hong Kong’s Securities and Futures Commission (SFC) has been aware of the fraudulent technique known as cloning for quite some time and that is why it usually adds a note to its warnings regarding the possibility that an unlicensed business may be using data of a licensed entity in order to lure investors more easily.
Such notes have appeared next to the latest three additions to SFC’s Alert List: Capstone Securities, Capstone Currency Group and Capstone Alliance Group. The trio are cloning Capstone Financial (HK) Ltd, a company which is active in the wealth management sector and is licensed by the SFC.
The regulator notes that none of Capstone Securities, Capstone Currency Group and Capstone Alliance Group is associated with the licensed entity.
Both Capstone Securities and Capstone Currency Group claim to be registered in the Netherlands and actively promote their Forex services. Capstone Alliance Group claims to have an office in Hong Kong and markets a wider array of investment services, including derivatives trading.
Details about the clone companies are as follows:
Name: Capstone Securities
Type: Unlicensed entities
Address(es): Kneuterdijk 8 2514 EN Den Haag, The Netherlands
Website: www.capstonesecurities.com
Name: Capstone Currency Group
Type: Unlicensed entities
Address(es): Kneuterdijk 8 2514 EN Den Haag, The Netherlands
Website: www.capstonecurrencygroup.com
Name: Capstone Alliance Group
Type: Unlicensed entities
Address(es): 1802, 18th floor, World-Wide House, 19 Des Voeux Road Central, Central Hong Kong
Website: https://capstone-alliancegroup.com
To view the updated Alert List, click here.