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FSMA Issues Warning Against Unauthorized Credit Provider SE-RE-CO (SERECO)
Belgium's FSMA has issued a public warning against SE-RE-CO (SERECO), alerting consumers that the company lacks authorization to offer mortgage credit services.
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The Financial Services and Markets Authority (FSMA) of Belgium has published an official warning regarding the unauthorized financial activities of the company SE-RE-CO, which operates under the commercial name SERECO.
According to the regulatory alert, SE-RE-CO is a real estate development firm located at Deken Jonckheerestraat 2, box 202, 8560 Wevelgem, Belgium, operating the website https://bm-sereco.be. The FSMA observed that the entity appears to directly offer mortgage credit products to consumers across Belgium.
The regulator emphasized that SE-RE-CO is not an authorized financial entity and does not possess the requisite license to act as a mortgage credit provider or intermediary. Consequently, the firm is legally prohibited from marketing, presenting, preparing, or finalizing credit contracts with the public.
Under regulatory rules, any documentation provided by SERECO must strictly consist of non-personalized materials compiled by a licensed lender or credit intermediary. The company is forbidden from providing detailed advisory services or promoting its own involvement beyond merely referring prospective clients to registered lenders or intermediaries.
The FSMA strongly advises Belgian consumers to exercise caution and reject direct mortgage credit proposals from SERECO. Consumers are also urged to verify the legal status of financial service providers by consulting the FSMA's official registry before entering into any financial contracts.