New Zealand's FMA Warns Against Neptune Blocks

​The New Zealand's Financial Markets Authority (FMA) has published a warning on its website against Neptune Blocks.

According to the regulator, the firm is using or giving the following details:

• Website: www.neptuneblocks.com

• Email: neptuneblockservice@gmail.com 

• ​Telephone: +64 220920715

As detailed in the notice, the regulatory body said that Neptune Blocks may be operating a scam. It has received reports of investors in the company being unable to withdraw their investments.

The website claims that it is registered and regulated in New Zealand. The FSPR number listed on the website does not correspond to any entity registered on the Financial Service Providers Register.

The website’s registrant is recorded as being based overseas and it is falsely claiming to hold a Derivative Issuer License. As such, it is not permitted to offer derivative trading services to New Zealand retail customers. FMA recommends exercising caution when dealing with this entity.

Recently, FMA has published a warning on its website against Synergy Capital Asset Management​. The suspicious entity is not listed on the Financial Service Providers Register and is not an incorporated company in New Zealand.