The AFM warns against Norbert Associates
The Netherlands Authority for the Financial Markets (AFM) is warning investors not to respond to offers of securities services
made by Norbert Associates (address used: Level 9, AIG Building 1-1-3 Maranouchi, Chiyoda-Ku, Tokyo 100-005 Japan).
Norbert Associates (www.norbertassociates.com) is offering securities services in the Netherlands, without having the requisite
licence to do so nor has Norbert Associates been granted an exemption from this license obligation. The AFM has received comp-
laints about Norbert Associates who has approached persons in the Netherlands for that purpose by telephone.
Institutions offering securities services in the Netherlands without possessing a licence or without having been granted an exem-
ption, are in breach of Section 7(1) of the 1995 Supervision of Securities Transactions Act (Wet toezicht effectenverkeer 1995 -
Wte 1995). This public notification is issued in accordance with Section 48n, subsection 1c, of the Wte 1995 and Section 48s of
the Wte 1995 (fake or unknown address / identity).
The AFM advises anyone who wants to do business with an institution or person, to check beforehand in the Institutions Register
for securities services whether the institution or person concerned is registered and allowed to offer or perform securities
services in the Netherlands. The register can be found on the AFM website. Furthermore the AFM advises investors strongly to check
her warning lists beforehand. On www.afm.nl/warninglists three warning lists are shown: (1) institutions and persons without a
license, (2) institutions without issuing a prospectus and (3) warning notices issued by foreign supervisory authorities. Alter-
natively, investors who have any questions or complaints may call the AFM Supervision Line on +31 (0)20 5535 535.