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NBS warning: Plustocks Limited

08. 02. 2018 | Information for Public

Národná banka Slovenska (NBS) wishes to draw attention to the activity of Plustocks Limited, a company with its registered office address at 6 Cambridge Court, 210 Shepherds Bush Road, London, W6 7 NJ, United Kingdom. Plustocks Limited is marketing investment products in Slovakia while not meeting Slovakia’s statutory requirements.

The company offers investors high returns via investments in various commodities (including coffee, wheat and platinum) as well as in such firms as Amazon, Apple and Alibaba. Not only does the company promise high-yielding investments, it also claims that these investments are fully insured and are therefore low risk. The company was marketing its services on its now inactive official website- well as through other entities with which it had a business relationship. According to the information available, the company was stuck off the respective commercial register on 4 April 2017.

Národná banka Slovenska, as the competent authority for issuing authorisations under laws regulating the Slovak financial market, points out that Plustocks Limited has not been issued with an authorisation to conduct business in Slovakia as required by Act No 566/2001 Coll. on securities and investment services (and amending certain laws), as amended (‘the Securities Act’). Nor does NBS have any record of the company as a provider of investment services under the European Union’s ‘single passport’ regime.

NBS further notes that the company is also not permitted to sell its services in Slovakia through a third party.

The business activity of Plustocks Limited is not subject to NBS supervision, and funds invested with the company are not covered by the Investment Guarantee Fund under the Securities Act.