Moneda Capital Warning

jimjames

There have been a few threads in the past about Moneda Capital that seem to have disappeared . The bank they claimed to be working with has confirmed that they have no contractual relationship with them but interestingly Moneda Capital has now amended their advertising.

Although they are still targeting social media (Instagram/Facebook) their ads now include the line that it is only for High Net Worth or sophisticated investors. Rather odd if these are deposit accounts protected by FSCS as they claimed previously but now says no FSCS. I wonder if FCA have been in touch to get changes made?

After they were claiming to be offering bank deposits previously Moneda are now saying the capital is at risk and returns aren't guaranteed. Anyone considering them should make sure they know exactly where there money is going and contact the relevant bank to be sure.

clairec666

I suspect the previous posts may have been "reported as spam" by Moneda in order to get them removed

poseidon1

jimjames said:

There have been a few threads in the past about Moneda Capital that seem to have disappeared . The bank they claimed to be working with has confirmed that they have no contractual relationship with them but interestingly Moneda Capital has now amended their advertising.

Although they are still targeting social media (Instagram/Facebook) their ads now include the line that it is only for High Net Worth or sophisticated investors. Rather odd if these are deposit accounts protected by FSCS as they claimed previously but now says no FSCS. I wonder if FCA have been in touch to get changes made?

After they were claiming to be offering bank deposits previously Moneda are now saying the capital is at risk and returns aren't guaranteed. Anyone considering them should make sure they know exactly where there money is going and contact the relevant bank to be sure.

Thanks for your tireless monitoring of this outfit. I think you are spot on that FCA have had words with them..

Buried in the fine print of the landing page of their 'asset back' fixed rate solutions offering is the following disclaimer - 


'  For Professional Clients, High Net Worth & Sophisticated Investors only. The content of this promotion has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. Capital at Risk. Returns are not guaranteed. FSCS protection does not apply. See Moneda Capital website for full Investment Risk and Disclaimer '

Sadly this is still fine print, which the eternally gullible will no doubt choose to overlook, but its a vast improvement over the previous completely misleading marketing  which claimed all kinds of non existent fcsc protections.

For those who missed the previous extensive thread see below-

https://forums.moneysavingexpert.com/discussion/comment/81515274#Comment_81515274?utm_source=community-search&utm_medium=organic-search&utm_term=moneda

jimjames

poseidon1 said:

jimjames said:

There have been a few threads in the past about Moneda Capital that seem to have disappeared . The bank they claimed to be working with has confirmed that they have no contractual relationship with them but interestingly Moneda Capital has now amended their advertising.

Although they are still targeting social media (Instagram/Facebook) their ads now include the line that it is only for High Net Worth or sophisticated investors. Rather odd if these are deposit accounts protected by FSCS as they claimed previously but now says no FSCS. I wonder if FCA have been in touch to get changes made?

After they were claiming to be offering bank deposits previously Moneda are now saying the capital is at risk and returns aren't guaranteed. Anyone considering them should make sure they know exactly where there money is going and contact the relevant bank to be sure.

Thanks for your tireless monitoring of this outfit. I think you are spot on that FCA have had words with them..

Buried in the fine print of the landing page of their 'asset back' fixed rate solutions offering is the following disclaimer - 

Thanks, after the LCF debacle the more that anyone can flag risk warnings up the better. They also seem to have amended their website so there is now a big splash screen where you need to confirm that you are a High Net worth etc before you can access the website. Hopefully that might make people think but I really wonder if Facebook adverts will harvest more people that don't go through that filtering process as it's less prominent as you say. When their website states "The investments are not available to the general public " it really does make you question whether adverts on social media are really compliant with that.

Eyeful

Financial self defence rules:
1. "Ignore Financial Advertisements on social media sights!" 
2. Do your own research before buying the product, not after!

masonic

clairec666 said:

I suspect the previous posts may have been "reported as spam" by Moneda in order to get them removed

It had nothing to do with spam, but for legal reasons I cannot comment any further about communications that may or may not have been made to contributors to those previous threads.

However, I am very pleased with the eventual outcome that both the advertising and website are now posting risk warnings to comply with FSMA s21. These products could not lawfully be marketed to consumers and the warnings make it clear they are not intended for them. This now pops up as a full page warning upon visiting their website:

clairec666

"... significant risk of losing all the money you invest"
 
What are they doing with it - taking it to a casino? 

wmb194

clairec666 said:

"... significant risk of losing all the money you invest"
 
What are they doing with it - taking it to a casino? 

If you click through it's a couple of strange, apparently Vienna "MTF" listed corporate bonds issued by Mondea Capital. One purportedly invests in property and the other in, "funding inventory finance specifically in the alcoholic beverages industry" but there's so little information it's hard to judge where and how the money's invested let alone how competently. 

jimjames

wmb194 said:

clairec666 said:

"... significant risk of losing all the money you invest"
 
What are they doing with it - taking it to a casino? 

If you click through it's a couple of strange, apparently Vienna "MTF" listed corporate bonds issued by Mondea Capital. One purportedly invests in property and the other in, "funding inventory finance specifically in the alcoholic beverages industry" but there's so little information it's hard to judge where and how the money's invested let alone how competently. 

And if you look at the financials they include it shows there is zero income and large losses. What could possibly go wrong.

It will be interesting to hear if anyone is encouraged to invest that is outside the groups that are meant to as I can't imagine they will get much take up with the exclusions.

masonic

clairec666 said:

"... significant risk of losing all the money you invest"
 
What are they doing with it - taking it to a casino? 

It's the standard wording the FCA requires for unregulated investments.

Very hard to ascertain the actual risk. This is why it is recommended to stick to mainstream investments.

wmb194

jimjames said:

wmb194 said:

clairec666 said:

"... significant risk of losing all the money you invest"
 
What are they doing with it - taking it to a casino? 

If you click through it's a couple of strange, apparently Vienna "MTF" listed corporate bonds issued by Mondea Capital. One purportedly invests in property and the other in, "funding inventory finance specifically in the alcoholic beverages industry" but there's so little information it's hard to judge where and how the money's invested let alone how competently. 

And if you look at the financials they include it shows there is zero income and large losses. What could possibly go wrong.

It will be interesting to hear if anyone is encouraged to invest that is outside the groups that are meant to as I can't imagine they will get much take up with the exclusions.

Yes, to me it's incoherent nonsense. Listed bonds usually have a prospectus - where is it? I can't find it on either the Mondea or the Wiener bourse websites. Why list it in Vienna and not London anyway?

Is it because the MTF makes it far easier? A listing - with apparently no trades - is an attempt to give it an air of legitimacy?

Disclaimer from the Vienna stock exchange:

"...this information does not constitute an investment advice or an invitation to purchase or trade securities. The fact that a company can be traded on the stock exchange does not guarantee the success of the investment.

...

The securities in the Vienna MTF are listed on a market in which the EU regulations and the issuer obligations under stock exchange law for regulated markets, in particular with regard to information obligations, do not apply in full."

http://wienerborse.at/en/legal/legal-framework/disclaimer-official-market-vienna-mtf/