Pinnacle Asset claims to be an online trading and investing company providing various financial services in Forex, Cryptocurrency, and Asset Management. However, there have been considerable red flags and warnings from regulators regarding this platform that are concerning. Pinnacle Asset appears to be linked with Pinnacle Asset (which has been flagged by the UK’s Financial Conduct Authority (FCA) and Spain’s Comisión Nacional del Mercado de Valores (CNMV) as an unauthorized firm), which is another sign that Pinnacle Asset might not be a legitimate or trustworthy platform to conduct financial transactions.
Is Pinnacle Asset a regulated company?
No, it is not
Pinnacle Asset does not provide any regulatory or licensing information on its website. In our opinion, a lack of regulatory disclosure is an important warning. In addition, Pinnacle Asset, which is linked to Pinnacle Asset, has been specifically mentioned by the FCA and the CNMV as an unauthorized firm.
Why has the FCA issued a warning against Pinnacle Asset?
Because it operates without a license.
On August 31, 2023, the Financial Conduct Authority (FCA) in the UK stated in public that Pinnacle Asset is directed at British residents but does not appear to be authorized to provide services. Therefore, any investors trading through platforms like Pinnacle Asset are not protected by UK financial legislation.
FCA Warning – https://www.fca.org.uk/news/warnings/pinnacle-assets
What did the CNMV in Spain report about Pinnacle Asset?
A similar warning.
The CNMV of Spain also warned that Pinnacle Asset may appear to be offering investment services without supervision or regulation. The pattern suggests that they probably operate in several jurisdictions without respecting the legal framework.
CNMV Warning – https://www.cnmv.es/Portal/resultadobusqueda?tipo=1&idAdv=5100
What are the risks of investing through Pinnacle Asset?
High financial risk and zero protection.
For one, the fact that it is unregulated means that if something goes wrong, you have no legal recourse to claim back any money that is lost, withheld, or misappropriated. There will be no consumer protection, nor any compensation scheme backing your investment.
What should you do if you’ve already invested?
Act quickly and report the issue.
If you have already sent money to Pinnacle Asset, write everything down, then report the matter to a financial authority. You would also want to contact a reputable recovery service.
Don’t Ignore the Warning Signs.
If you have been scammed or suspect the actions of platforms such as Pinnacle Asset or Pinnacle Asset, please check out LegalCertifi.com for assistance. Legal Certifi helps users to review suspicious financial services and support them through recovery.
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