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Assets of FX trader seized

Thursday, May 21st 2015, 3:20PM

The FMA is investigating Arena Capital which has been trading as BlackfortFX). The FMA has obtained asset preservation orders over the company's assets and associated persons, in light of concerns that investor funds may be at risk.

Arena is registered on the Financial Service Providers Register and purports to offer foreign exchange services to clients. The FMA is concerned that Arena may be operating in breach of financial markets legislation.

The FMA says, in a statement that it "cannot comment further at this stage to protect the integrity of the investigation."

It is working with the Serious Fraud Office on this investigation.

It comes after the FMA issued a warning about Forex Trend. It said it had received a number of complaints about the company from customers who had not been able to withdraw their money.

Any investor with information about Arena/Blackfort is encouraged to go to the FMA’s website where investors can use the online complaint form to provide information, or call the FMA helpline: 0800 434 567.

Tags: FMA FX

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