Contract note

Hello

Can anyone tell me is a Contract Note legally binding if the deal is agreed over the phone by a company called Damak Group based in St Lucia and apparantley regulated by the FSSU, they apparentley have a office in london. I was originally approach by Blackwell Advisory.

Regards Baz

What sort of paperwork/account opening forms did you sign?
If none then the answer is that the CT cannot be legally binding.

+ a quick Google reveals Damark to be pretty much non-existant and Blackwells front page looks very suspicious to me.

Contract Note

A Dashing Blade said:

What sort of paperwork/account opening forms did you sign?
If none then the answer is that the CT cannot be legally binding.

+ a quick Google reveals Damark to be pretty much non-existant and Blackwells front page looks very suspicious to me.

Click to expand...

Thanks for your reply, I haven't signed anything the contract note was sent after a verbal agrement over the phone.
Since posting this thread I have contacted the FSA and they have confirmed that none of the above mentioned companys are approved by them, I am waiting for a call from the FSA legal team on Tuesday for advice on this matter.

Regards Baz

damak group

i really prefer investing in property and land as i found that bricks and mortar give me quality gains. My good friend who enjoys gains on the markets is helping me build up a small part of my portfolio to balance it out.

i have not done a great deal of stock investing as its not expertise how ever i have had dealing with the damak group, i was in contact with them and also was not sure about trading through them, so i contacted my friend and he also had done business with them at this was one of the reason i invested.

since then i have had buys and sell executed with no problems whatsoever.

From what i understand if they are not regulated themselves by the fsa as they are not in there juristriction, however they must conform with the rules of the finacial services securities unit which make sense because the fsa will not advice you to invest outside of there power as then they are washing the hands of responsibility, this does not mean you cant make money.

If anyone can help me as i am looking for direction now in stocks connected to property in the balkan area, any info pm me


victor

damak

baz65 said:

Thanks for your reply, I haven't signed anything the contract note was sent after a verbal agrement over the phone.
Since posting this thread I have contacted the FSA and they have confirmed that none of the above mentioned companys are approved by them, I am waiting for a call from the FSA legal team on Tuesday for advice on this matter.

Regards Baz

Click to expand...

we've had a similar expirence with Damak, cold called, verbal agreement etc.Did the FSA resolve your issues?

regards Howell

howell said:

we've had a similar expirence with Damak, cold called, verbal agreement etc.Did the FSA resolve your issues?

regards Howell

Click to expand...

The FSA phoned me back and advised that was nothing legally binding as Blackwell Advisory had cold called me, after that I sent an email to Damak that I wished to cancel the contract, I haven't heard from then since, Blackwell Advisory phoned a couple of days later and I told them that I had cancelled, he tried talking me around, i told him I hadn't any money to invest then he hung up.

So hopefully thats the end of the matter.

Regards Baz

As a new poster on this board I probably should hold my tongue however two things are making me mad:
1) Pantera Oil & Gas and in particular Blackwelll Advisory fit very much in to the profile of a boiler room designed to steal investors money through selling hyped up worthless stocks. I post regularly on another Board (Linked here to avoid the need to cut and paste all the relevant points)
http://boards.fool.co.uk/Message.asp?mid=10058145&sort=whole#10060622

2) victorwins statesi really prefer investing in property and land as i found that bricks and mortar give me quality gains. My good friend who enjoys gains on the markets is helping me build up a small part of my portfolio to balance it out.

i have not done a great deal of stock investing as its not expertise how ever i have had dealing with the damak group, i was in contact with them and also was not sure about trading through them, so i contacted my friend and he also had done business with them at this was one of the reason i invested.

since then i have had buys and sell executed with no problems whatsoever.

From what i understand if they are not regulated themselves by the fsa as they are not in there juristriction, however they must conform with the rules of the finacial services securities unit which make sense because the fsa will not advice you to invest outside of there power as then they are washing the hands of responsibility, this does not mean you cant make money. This reads to me as UNSUBSTANTIATED waffle designed to validate an unregulated off shore BOILER ROOM. Damak Group are trading restricted shares and PRE-IPO companies.....how then has ANYONE had succesfull buy/sell transctions completed?
Cynical Syd