New Zealand’s Financial Markets Authority (FMA) earlier today updated its list of unauthorized businesses that seek to attract New Zealand investors.
Among the new additions is Options Rider, a company offering a variety of binary options services from www.optionsrider.com.
The FMA is particularly concerned that Options Rider is claiming to be regulated in New Zealand when, in fact, it is not.
In addition, the FMA has received reports that the company claims to be authorised and regulated by the New Zealand Securities and Exchange Commission. The watchdog notes that there is no New Zealand Securities and Exchange Commission and Options Rider is not regulated as a financial service provider in New Zealand.
(Screenshot from Options Rider’s website, where it claims to be regulated by a non-existent institution.)
To view the warning from the FMA, click here.