Sugeval Issues Investor
Alert!
The Superindendencia
General de Valores (Sugeval)
is warning investors to
beware when purchasing
financial instruments
and intermediary
financial services,
detecting 23 companies
operating on the fringes
of the law.
The companies, according
to the Sugeval, offer
high rates of returns on
investments made on
foreign stock markets,
operating under various
corporate identities and
using the internet to
attract customers.
The Sugeval regulates,
supervises and
oversights Costa Rican
securities markets, the
activities of private
individuals or corporate
entities that are
directly or indirectly
involved in them and the
actions or contracts
related to them, as
specified by Law 7732
and its amendments.
The Sugeval has posted
on its
website a
list of companies it has
identified as offering
securities and other
investments which are
not registered with the
Sugeval and thus are not
under the control of the
regulating authority.
Sugeval reports that so
far this year it has
received 18 complaints
against companies
offering the irregular
financial services.
However, the Sugeval,
can only investigate
once a complaint is
filed and then only hand
over the findings to
judicial authorities if
it finds any
irregularities.
Eddy Rodríguez,
Intendente de Valores,
said that some of the 23
companies on the list
have already been
reported to the
Ministerio Público
(judicial authority).
The companies on the
Sugeval list are as
follows:
- Armtrust, S.A.
- Capital Managers
Clearing Corporation
- Capital Managers
Corporation
- CR-Home S.A.
- First Republic Group
of Funds, S.A.
- First Republic
Securities Management &
Consultant, S.A.
- Forex Latin Trader
- Future Power
Industries
- Goldmill Wagner
Associates (GWA)
- Hartford Capital
Management
- Interglobal Finance
S.A.
- Interglobal Mergers
and Acquisitions Inc.
- International Currency
Traders S.A.
- Kennedy Investments
Ltda.
- Kerford Investments
S.A.
- Meridian Trading Group
- Rosswell Spencer
- Trade Exchange S.A.
conocida también como "Tradex"
- State Trust Group
- Strategic Management
- United Holding
International
- Universal Ventures
- Wellington Trading
Group
Source: Superintendencia
General de Valores (SUGEVAL)
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