Finanstilsynet (The Financial Supervisory Authority of Norway) warns against investment offers promoted by Wallace Associates Inc.
Finanstilsynet has been informed that Wallace Associates Inc (address: Market Street 137 Singapore) has approached Norwegian investors offering investment services. The company also offers services from a website www.wallaceassociatesinc.com.
Finanstilsynet wishes to make it clear that Wallace Associates Inc is not authorised to provide investment services in Norway, and therefore lacks the licence required under Norwegian law. The company is consequently not subject to Finanstilsynet’s supervisory oversight, nor has Finanstilsynet approved the services offered by the company. Finanstilsynet therefore recommends investors not to enter into agreements with or transfer assets to Wallace Associates Inc.
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.