The Financial Services Regulatory Authority has warned the public against dealing with an entity known as Fairtree Investment, saying it is operating illegally and soliciting funds without authorisation.
In a press statement issued by the FSRA, the Authority said preliminary investigations showed that Fairtree Investment is running a collective investment scheme without a licence required under section 35(1) of the FSRA Act, 2010.
The Authority said the details and identity of the operators remain unknown. 
According to the FSRA, the entity has been advertising investment opportunities on social media, including Facebook and promoting what the regulator described as ‘unrealistic and potentially misleading returns’ to members of the public.
“The FSRA confirms that Fairtree Investment is not authorised or licensed to provide financial services to members of the public,” said FSRA in the statement.
The Authority further stated that accordingly, any activities conducted by this entity involving the solicitation or collection of funds for investment purposes are unlawful and in direct contravention of the FSRA Act, 2010.
The regulator advised members of the public to avoid accepting financial advice, assistance, or investment offers from individuals or entities not authorised by the FSRA to provide non-bank financial services.
The FSRA said licensed providers are required to display proof of authorisation at their business premises.
Where this is not visible, the public is urged to make further enquiries before committing any funds.
The Authority also listed indicators the public should watch for when approached with investment offers.
These include promises of unrealistic or exaggerated returns, offers made exclusively through social media, requests for upfront payments for services, demands for additional money to release earlier investments,
requirements to pay for training, pressure to make immediate decisions and a lack of clear information about the investment product.
“The public is strongly urged to exercise caution when considering unsolicited investment or trading offers, especially those communicated through social media,” the FSRA said.
The Authority said it will continue to monitor the market and take action against unlicensed operators in line with its mandate to protect consumers.
