Pursuant to Article 24 para 6 of the Wertpapieraufsichtsgesetz (WAG; Austrian Securities Supervision Act) the Austrian Financial Market Authority (FMA) is entitled to inform the general public by publication in an official bulletin published nationwide that a particular company is not authorized to provide certain financial services (as stipulated in Section 1 para 1 no. 19 of the Bankwesengesetz (BWG; Austrian Banking Act)).
With the announcement in the official gazette “Amtsblatt zur Wiener Zeitung” on
24 August 2005 the FMA makes use of its right and warns against doing any financial services business with the following companies
Kaikatsu Group;
alleged location at
Tokyo Ginko Kyokai Building, 1-3-1 Marunouchi, Chiyoda-Ku,
Tokyo, 100-0005 Japan
Tel.: ++81/344 965 255
Fax: ++81/344 965 256
Website: www.kaikatsu-group.com
und
Phoenix Alliance International (PAI)
alleged location at
Tokyo Palacio Tower Level 9, Omotesando 3-6-7 KitaAoyama,
1 07-0061 Tokyo
Tel.: ++81/354 043 569
Fax: ++81/344 964 118
These companies are not authorized by the FMA. Therefore they are not entitled to provide investment advice concerning client funds, to manage client portfolios in accordance with mandates given by investors or to broker business opportunities for the acquisition or sale of certain financial instruments.
This action by the FMA comes as a result of several inquiries and complaints by investors in Austria.