UAE warns investors BDS LTD.Seychelles unlicensed for financial services

UAE authorities warned investors and the public of an unlicensed company, named BDS LTD.Seychelles.

The Security and Commodities Authority said that the company is not authorised to engage in regulated financial activities or offer related financial services.

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The SCA added that it assumes "no responsibility for any transactions or dealings carried out with the company".

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Last week, the authority warned the public against dealing with three unlicensed entities — namely Sigma-One Capital, Sigma Wealth World Financial, and Sigma One Cap Marketing Services.

The warning came after a Khaleej Times report exposed the firms for running unregulated trading operations that left scores of investors financially devastated.

Written by

Khaleej Times Staff