Monetary Authority Warns Of “Clone Firm”
The Bermuda Monetary Authority has advised “that it has located what appears to be a clone firm”, describing a clone firm as “one which uses the details of a genuine firm to try to convince investors that they work for that entity when they do not.”
The BMA statement said, “The Bermuda Monetary Authority advises the public that it has located what appears to be a clone firm, “Kuva Limited’. A clone firm is one which uses the details of a genuine firm to try to convince investors that they work for that entity when they do not.
“The following website – www.kuvaltd.com – promotes an investment firm named ‘Kuva Limited’ and falsely claims it is regulated by the Authority.
“The public should be aware that this entity is NOT regulated, authorised or licensed by the Authority. There are a number of other false statements made on the website – the Authority advises caution in engaging in business through this website. The Authority has added this entity to its warning list of unauthorised firms and individuals which can be found here.
“There is a legitimate, Bermuda-registered entity named Kuva Limited, which operates an authorized investment fund and is correctly listed on the Authorised Funds section of the Authority’s website. It is in no way associated with ‘Kuva Limited’ mentioned above.”
Is that just the same as the B.T.A. with Government.
LMFAO