Guardian Securities Ltd.


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This is company has a Category 1A license in Malta. It has held a license for approximately 2 years times. Most of this time it has been insolvent with respect to its license mandate. Its original four associates all left the company due to shortfalls in financial agreements with the Company and its beneficial owner. Two licensed employees and one non executive Director resigned. The licensed individuals have a financial dispute with the company and regulatory concerns. The CEO who served in that position as a proxy for Michael Shumak waited six months for Shumak to find a willing replacement as CEO.
This company is not licensed to hold investor funds or securities. Only licensed individuals of this firm may give advice and transmit orders to a firm with a license to perform executions on trades on Guardians behalf.
If you do business with this firm be aware of who you are dealing with. Make sure the individual that gives you the buy recommendation on the private placement or low volume stock is indeed licensed. They have used unlicensed marketers to dispense advice on these illiquid securities. Check with the Maltese Financial Services prior to trading with them to make sure the person who gives you the presentation is licensed. Take notes and keep a journal of all dealings with them.
This way you will have at least some chance if your positions remain illiquid. Michael Shumak has personally dealt with the clearing house Interactive Brokers and they have been made aware of his boiler room background. They have so far chosen to do business with him in spite of this. Be careful.
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