The New Zealand Financial Market Regulator maintains a list of “Entities to Watch Out for” as part of its powers and in order to protect investors from companies that have been registered to provide financial services, but which are constantly complained of loss of invested funds or other serious violations that suggest that customers may lose their funds.
The standard procedure after receiving a complaint against an organization or an individual registered accordingly is to request an explanation from the company or person, and wait for a response.
If there is no response, or the response received seemed inadequate or inappropriate, especially given that sufficient information is provided for each complaint, then the financial regulator adds the name of the company to the “Black List” of those organizations with which you need to be careful.
The last item on the list was TigerWit Prime Limited, which offers trading services through its website www. tigerwit. com. On the website, the company has an address in New Zealand, as well as that the company is a registered service provider.
However, in the list, the financial regulator notes that all of TigerWit’s claims regarding registration in New Zealand are false. The company also misleads customers into claiming that their funds are safe.
