The Bank of Mauritius and the Financial Services Commission, Mauritius issue a joint Alert to caution members of the public in their dealing with UFX Trade Limited

18 July 2014, Bank of Mauritius

 

The Bank of Mauritius (the ‘Bank’) and the Financial Services Commission Mauritius (the ‘FSC Mauritius’) hereby inform the public about an advertisement which appeared in L’Express.mu, an online newspaper, on 25 June 2014 under the heading ‘AUGMENTEZ VOS REVENUS’.

 

This advertisement appears to be soliciting the public to trade in securities with UFX Trade Limited (‘UFXMarkets’) through its website (http://www.ufxmarkets.com/).

 

The public is informed that UFXMarkets is neither licensed by the Bank nor by the FSC Mauritius. The public is further informed that in accordance with Section 31 of the Securities Act 2005, UFXMarkets is not allowed to solicit any person in Mauritius to enter into securities transactions.

 

Members of the Public who opt to do business with UFXMarkets or any other entity which is not licensed by the Bank or the FSC Mauritius, do so at their own risk. The list of financial institutions duly licensed by the Bank and the FSC Mauritius is published on their respective websites, https://www.bom.mu and http://www.fscmauritius.org.

 

The Bank and the FSC Mauritius recommend the public to seek independent professional advice before engaging into trading activities in view of the level of risk that these activities entail.

 

In the event that any person in Mauritius is solicited to trade in securities with UFXMarkets, this person is requested to contact FSC Mauritius immediately.