BNY Mellon Wealth Management (clone of authorised firm)
Published: 25 April 2014
Last updated: 12 February 2019
Investor warning (clone of authorised firm)
It has come to Finanstilsynet (The Financial Supervisory Authority of Norway) attention that a firm, calling itself BNY Mellon Wealth Management (purporting to be based in the USA.) has been operating as an investment firm in Norway in the absence of an appropriate authorisation. This unauthorised firm has cloned the name of a legitimate BNY Mellon business, BNY Mellon Wealth Management, that is based in in the USA.
It should be noted that there is no connection whatsoever between the legitimate BNY Mellon Wealth Management business in the USA (or any other BNY Mellon entity) and the unauthorised BNY Mellon Wealth Management entity that is operating in Norway.
Finanstilsynet wishes to make it clear to investors that they have to be careful when dealing with any entity calling itself BNY Mellon Wealth Management and take steps to make sure that they are dealing with the legitimate investment firm that has notified cross border activity into Norway.
Finanstilsynet's registry gives details of all companies authorised to offer investment services in Norway. A list (not complete) of companies operating in the market without a licence can be found on Finanstilsynet's website.