The Netherlands Authority for the Financial Markets (AFM) is warning investors not to respond to offers of securities
services made by Cathay Asset Management.
Cathay Asset Management is offering securities services in the Netherlands, without having the required licence to do
so nor has Cathay Asset Management been granted an exemption from this license obligation. The AFM has received a comp-
laint about Cathay Asset Management from a person in the Netherlands who has been approached for that purpose by telephone.
Institutions offering securities services in the Netherlands without possessing a licence or without having been granted
an exemption, were until January 1st 2007, in breach of Section 7(1) of the 1995 Supervision of Securities Transactions
Act (Wet toezicht effectenverkeer 1995 - Wte 1995) and are since January 1st 2007 in breach of Section 2:96 Financial
Supervision Act (Wet op het financieel toezicht). This public notification is issued in accordance with Section 14 Imple-
mentation and Modification Act of the Financial Supervision Act (Invoerings- en aanpassingswet Wet op het financieel toe-
zicht) jo. Section 48n, subsection c, of the Wte 1995.
The AFM advises anyone who wants to do business with an institution or person, to check beforehand in the relevant register
of the AFM 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 who
are offering securities services in the Netherlands without having the required licence, (2) institutions that are offering
securities without issuing a prospectus when they are under a legal obligation to do so and (3) warning notices issued by
foreign supervisory bodies. Alternatively, investors who have any questions or complaints may call the AFM Supervision Line
on +31 (0)20 5535 535.