MUSCAT : The alert follows recent FSA observations of unauthorised entities impersonating licensed platforms and companies. One such example includes a foreign entity falsely claiming to be a financial regulatory institution with supervisory authority over capital markets in the Gulf region under the name ‘Gulf Higher Authority for Financial Conduct, operating via the website: www.financialgcc.com
“Accordingly, the FSA advises all investors to ensure that the entities they deal with are authorised to conduct activities related to securities by the regulatory authority supervising this sector, which is the Financial Services Authority in the Sultanate of Oman.
Please note that a commercial registration issued by the Ministry of Commerce, Industry and Investment Promotion does not constitute a license to carry out this activity,” the alert stated.
The FSA emphasised that awareness of proper investment principles and practices protects one from the risks of loss and fraud.
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To protect investors and promote transparency, the FSA provides regularly updated lists of:
List of unauthorised companies:
https://fsa.gov.om/Home/InvestorProtectionPortal/Listofcompaniesnotlicensed
List of authorised companies: https://fsa.gov.om/Home/AuthorizedAndAccredited
