In an attempt to offer pseudo-legitimacy to their scheme, FX United registered themselves as a corporation in New Zealand.

The idea was that nobody would ask questions and FX United’s anonymous admins could run the scheme from an undisclosed location.

Things started to fall apart earlier this month, after the Financial Markets Authority (FMA) issued a warning against the company.

According to the FMA, they issue a warning when a registered company is

the subject of complaints about loss of investor funds, or other serious misconduct that suggests customers may lose money.

Specifically, the
FMA’s May 4th warning against FX United
was issued because

United Global Holdings Limited, trading as FX United, has been falsely claiming that the FMA has endorsed the company as being legitimate and highly regulated.

For those unfamiliar with the company,
FX United
solicit investments of up to $10,000 on the promise of a passive 150% ROI.

Naturally, registration with a securities regulator is mandatory in any markets FX United operate in.

Now FX United troubles with New Zealand regulators continues, with the Registrar of Companies threatening to remove FX United from the Companies Office register.

Notice of intention to remove companies from the register

I intend to remove the following companies from the Register under section 318(1)(ba) of the Companies Act 1993 on the grounds that the companies failed to respond to a requirement made under section 365(1)(caaa) or (c) of the Act.

BLESSING LIFE LIMITED | 5827907

EZYMART LIMITED | 5872824

MAXFIT TRUSTEES LIMITED | 5737831

PRODJECT LIMITED | 3404475

UNITED GLOBAL HOLDINGS LIMITED | 5247841

It’s likely the FMA’s warning triggered information requests from the Companies Office, which it appears FX United have thus far failed to respond to.

The Registrar of Company has set a deadline of June 17th, after which FX United will be struck from the register.

🤖 Quick Answer

Why is FX United facing deregistration by the New Zealand Companies Office?
FX United, registered in New Zealand to appear legitimate, is being deregistered following the Financial Markets Authority's warning. The FMA issued an alert after receiving complaints about investor fund losses and discovering the company falsely claimed FMA endorsement, violating regulatory requirements and investor protection standards.

What triggered the Financial Markets Authority's warning against FX United?
The FMA issued a warning on May 4th after determining that United Global Holdings Limited, trading as FX United, made false claims regarding FMA endorsement. The authority acts when registered companies face complaints about investor fund losses or serious misconduct indicating potential customer financial harm.

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