Spain’s National Securities Market Commission (CNMV) warned on January 21, 2019 that BALI LIMITED LTD, SOLUTIONSCM LTD and the website lockwoodinv.com were not registered with the regulator and were not authorized to provide certain investment services in Spain.
The warning covered services including investment advice and activities involving financial instruments, including foreign-currency transactions. It remains visible in the CNMV’s warning database, but it is important to describe it accurately: this was an unauthorized-firm warning, not a court judgment or a finding that Lockwood Investments committed fraud.
What the CNMV warning says
The CNMV’s official notice names three targets:
| Named in the warning | What the notice establishes |
|---|---|
| BALI LIMITED LTD | Not registered in the relevant CNMV registry and not authorized to provide the specified investment services in Spain |
| SOLUTIONSCM LTD | Not registered in the relevant CNMV registry and not authorized to provide the specified investment services in Spain |
| lockwoodinv.com | Identified as a website connected with the warning and not authorized to provide the specified investment services in Spain |
The English version refers to investment services listed under Article 140 of the then-applicable Spanish Securities Market Law. It also refers to auxiliary services under Article 141(a), (b), (d), (f) and (g), in relation to financial instruments covered by Article 2. The Spanish notice specifically describes activity that includes operations on foreign currencies.
In practical terms, the warning means that a person in Spain should not treat the named entities as a CNMV-authorized provider of forex or other regulated investment services.
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This is a 2019 warning, not a new action
The date matters. The CNMV issued the warning on 21 January 2019. A review article published years later may make the notice look recent, but the underlying regulatory action has not been re-dated. The CNMV’s current Search Engine for Warned Companies still shows the original date.
The entry can be checked through the CNMV website by following:
Home > Warnings (unauthorised firms and other entities) > Search Engine for Warned Companies
In the database, search for LOCKWOODINV.COM or SOLUTIONSCM LTD. The relevant record is listed under the consultation category “By type unauthorised entities”. The table includes the date, targeted companies, the Spanish document, the English document and comments.
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Primary documents are available from the CNMV in Spanish and English.
What the warning does not prove
A warning that a firm is unauthorized is serious, but it has a narrower meaning than many online summaries suggest. The CNMV material does not say that:
- Lockwood Investments was convicted of fraud;
- customers definitely lost money;
- the website operated from the Marshall Islands, Bulgaria or another specific jurisdiction;
- the business was owned by United Limited;
- the CNMV determined that the business was a criminal scam; or
- the CNMV shut down the website or recovered funds for customers.
Those claims may appear in broker-review pages or warning roundups, but they should not be presented as findings made by Spain’s regulator unless a separate, reliable source supports them. The precise statement supported by the primary source is that the named entities were not authorized to provide the specified investment services in Spain.
Why authorization matters to a forex customer
Authorization is not a guarantee that an investment will make money. It does, however, indicate that a firm falls within the relevant regulatory framework and may be subject to rules covering areas such as conduct, disclosures, client treatment and supervision.
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If a forex website is not authorized to serve Spanish investors, a customer should not assume that the protections associated with a regulated investment firm apply. The warning also means that a polished website, trading platform or claims about professional account managers should not be treated as evidence of regulatory status.
Use the exact legal name and website address when checking a firm. Similar names can belong to unrelated businesses, while an unauthorized website may use a brand name that differs from the company name shown in its terms and conditions.
If you are considering or already using the service
- Pause new payments. Do not send additional money merely because a representative promises higher returns, faster withdrawals or a fee-free release of your balance.
- Save the evidence. Keep account statements, payment confirmations, emails, chat logs, telephone numbers, wallet addresses, domain names and screenshots of the trading dashboard.
- Check the payment route. Contact your bank, card issuer or payment provider promptly and ask what dispute, recall or fraud-reporting options are available. The available process depends on the payment method and timing; no recovery is guaranteed.
- Do not pay a second “recovery” firm without checking it. People who have already deposited money can be targeted by services claiming they can recover funds for an upfront charge. Verify any such firm independently with the relevant regulator.
- Report the matter through the appropriate channels. A bank or payment provider can explain its internal fraud process, while Spanish consumers may also seek guidance from the relevant consumer-protection or law-enforcement authorities.
- Verify any replacement domain. A new website, company name or “regulated partner” does not erase the 2019 warning. Check the specific legal entity and domain in the regulator’s current registers.
How to interpret the CNMV database entry
The current database categorizes the record as a warning concerning unauthorised entities. That classification is not the same as a criminal conviction, civil judgment or formal determination of investor losses.
It is also not correct to describe the record as a new Spanish warning against Lockwood Investments. The regulator’s database preserves the original January 21, 2019 date. A responsible article or review should include that date whenever it refers to the warning.
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Bottom line for prospective clients
Anyone in Spain considering a forex service connected with lockwoodinv.com, BALI LIMITED LTD or SOLUTIONSCM LTD should treat the CNMV warning as a clear reason not to assume the provider is authorized. Check the firm directly in the CNMV’s registers and do not rely solely on branding, online reviews or sales claims.
The defensible conclusion is limited but important: on January 21, 2019, Spain’s regulator said the named entities were not registered and were not authorized to provide the specified investment services in Spain, including services involving foreign-currency transactions.
FAQ
When did Spain warn about Lockwood Investments?
The CNMV issued the warning on January 21, 2019. The warning remains listed in the regulator’s current database under unauthorized entities.
Which names appear in the CNMV warning?
The notice identifies BALI LIMITED LTD, SOLUTIONSCM LTD and the website lockwoodinv.com.
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Did the CNMV declare Lockwood Investments a scam?
No. The official notice says the named entities were not registered and were not authorized to provide specified investment services in Spain. It does not describe a criminal conviction or establish that customers lost money.
Does the warning specifically cover forex?
Yes. The CNMV notice refers to services involving financial instruments and includes operations on foreign currencies. It also refers to investment advice and specified auxiliary services under the Spanish law cited in the notice.
Is this a recent warning?
No. The underlying action is dated January 21, 2019. Later articles may be recent, but the CNMV database continues to show the original warning date.
Where can I verify the entry?
Use the CNMV’s Search Engine for Warned Companies at cnmv.es. Search for LOCKWOODINV.COM or SOLUTIONSCM LTD and open the Spanish or English document.
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Bottom line: The CNMV warned on January 21, 2019 that BALI LIMITED LTD, SOLUTIONSCM LTD and lockwoodinv.com were not authorized to provide specified investment services in Spain, including foreign-currency services. That is a significant regulatory warning, but it should not be inflated into an unsupported claim that the regulator proved fraud, ordered a shutdown or confirmed investor losses.
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