Case files › FMA warning list › Somerset Security
Somerset Security
Somerset Security's site claims SEC registration while appearing on an IOSCO portal warning from New Zealand's regulator.
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Somerset Security was listed on IOSCO's investor alerts portal on 20 October 2026 as a warning from the Financial Markets Authority. The site, which offers copy trading, was still live when monitoring began and is live now. The site names the SEC, NFA and CFTC as regulators.
By the numbers
Timeline
- Domain registered via Cloudflare, Inc.
- FMA warning listed on IOSCO's investor alerts portal
- Our monitoring begins; the site is online
- Still online at our last check
Red flags
- It describes itself as licensed or regulated (“…investment advisor, regulated under the Investment Advisors Act of 1940.”) while it is on a warning list.
- It was still online at our last check, 8 days after the warning.
What the site claimed
The site said its advisory arm is an SEC-registered investment advisor, regulated under the Investment Advisors Act of 1940, and named the SEC, NFA and CFTC. It also described copy trading with KYC/AML checks and risk disclosures.
| Says it is regulated by | SEC, NFA, CFTC |
|---|---|
| Licence wording | “Somerset Security Advisors is an SEC-registered investment advisor, regulated under the…” |
What the regulator published
Financial Markets Authority (NZ) listed Somerset Security as a firm that is not authorised to offer financial services. IOSCO's investor alerts portal listed the warning on 20 October 2026. Website given by the regulator: somersetsecurityllc.com.
A regulator puts a firm on its warning list when it offers financial services without the authorisation it needs there. Customers of a firm like this usually cannot use the protections that come with authorised firms, such as the ombudsman or a compensation scheme.
Check it yourself: FMA warning list
Domain record
| Registered | 12 February 2026 |
|---|---|
| Registrar | Cloudflare, Inc. |
| Expires | 12 February 2027 |
The domain somersetsecurityllc.com was registered on 12 February 2026 through Cloudflare, Inc., 250 days before the warning.
If you sent money to this firm
- Call your bank or card provider today and tell them it was a scam. The sooner they know, the more they can do.
- Do not send any more money, including "fees" or "taxes" to release a withdrawal.
- Report it to the police where you live and to the Financial Markets Authority (FMA), which issued the warning. In the UK the police route is Action Fraud (Police Scotland on 101 in Scotland), in Australia ReportCyber, and in Canada the Canadian Anti-Fraud Centre.
- Keep everything: payment receipts, chats, emails and screenshots.
- Be careful with "recovery" offers. Never pay anyone upfront to get your money back.
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Useful to have ready: payment dates and amounts, the bank or card you paid from, and any chats or emails with Somerset Security (somersetsecurityllc.com).
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This page reports what a financial regulator published and what we observed. A warning means the regulator says the firm is not authorised; it is not a finding of guilt. Figures are from our own monitoring and public domain records on the dates shown.