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24 May 2023, 10:33 am | Unauthorised firm

Unauthorised Financial Services activities

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public to Cerberus Advisors.

The DFSA is informed that individuals claiming to represent Cerberus Advisors have cold called and met individuals in the DIFC, soliciting them to enter into arrangements for the provision of financial services, even though Cerberus Advisors is not authorised by the DFSA to provide financial services in or from the DIFC.

Cerberus Advisors is not regulated by the Dubai Financial Services Authority. Their website (https:// https://www.cerberus-advisors.com) states that ‘Cerberus Advisors is an Appointed Representative. Cerberus Advisors' Appointed Representative Principal is affiliated to Organisme de Surveillance pour Intermédiares Financiers & Trustees (SO-FIT) in Switzerland’.

The DFSA has a page on its website dedicated to alerts which it has issued about scams. All alerts issued by the DFSA may be accessed by going to: ALERTS

The DFSA has also issued warnings and guidance about the common types of scams perpetrated on consumers. For more information on these scams, please go to: HOW TO AVOID BEING SCAMMED

The DFSA encourages consumers to refer to the list of regulated Firms and Authorised Individuals licensed by the DFSA that is available on the DFSA's: PUBLIC REGISTER

If you have any concerns about the authenticity of any correspondence or documents that purport to be issued by the Dubai International Financial Centre (DIFC), DFSA or a DFSA regulated Firm, you should direct your concerns to the DIFC on Tel:+971 4 362 2222 and to the DFSA via the DFSA Complaints function on: COMPLAINTS 

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