Warning against conducting securities trading with Pacific Union (Seychelles) Limited (PU Prime)

Published 30-05-2023

The Danish Financial Supervisory Authority (FSA) warns against conducting securities trading with Pacific Union (Seychelles) Limited (“PU Prime”).

The Danish FSA has been informed that PU Prime offers investment services and activities are being marketed to Danish clients. 

PU Prime does not have authorization from the Danish Financial Supervisory Authority to carry out such services in Denmark in accordance with the Danish Investment Firm Act. The company has not been notified in Denmark by any foreign Financial Supervisory Authority.

It is a violation of the Investment Firm Act to offer investment services and activities in Denmark without a license.

PU Prime’s website is www.puprime.com.

The trading platform is being marketed by Danish-speaking finfluencers (influencers who share their advice, opinion and knowledge about investment via social media). The finfluencers are often sponsored by a trading platform and they therefore receive a fee if they get new customers to use the trading platform. The Danish FSA calls for caution in relation to the promotion of foreign trading platforms as there is an increasing number of companies/persons that try to get Danish investors to use trading platforms that are not subject to supervision in Denmark. If one makes use of a trading platform such as PU Prime to deal with financial instruments, he/she is not ensured investor protection. This means, among other things, that investors cannot issue a complaint to The Danish Financial Complaint Board and that the investments are not covered by the Danish Guarantee Fund. Thus, the investor is unlikely to get his/her money back if things go wrong.

The Danish FSA's business register contains information on which companies are authorized to offer financial services in Denmark. The Danish FSA's website also contains information on identifying fraud companies and how to avoid them, under Avoid fraud.

Last updated 30-05-2023