This week has seen the launch of new asset registry "The OTC Registry's" drive to offer those left in the dark by mis-sold carbon credit brokers a long term inventory solution.
Motivated in part by the collapse of VER selling operations and the impact on mis-advised investors, The OTC Registry's 'new business executive' Mathew Downes had this to say:
"For too long, unregulated investment firms have sold unsuitable investments and held them in out of reach 'Nominee' trading accounts. The danger this poses, is as has happened with City brokers recently, if the sales broker goes into receivership; it is next to impossible to verify who the beneficial owners are of the assets.
Furthermore, if a buyer was ever enticed into acquiring the credits of any particular project that the nominee clients held - how would the two parties be put in touch with one another?"
The OTC Registry is not a broker, so neither buys nor sell Carbon Credits, but it offers those with a verifiable VCS Registry serial, membership to their books. The next stage for the 'Registry' is to make this 'OTC Dealbook' available to interested buyers and allow prospective purchasers be linked to beneficial owners.
New private investor focused Unregulated Asset Registrars The OTC Registry, launched this month with a drive to offer an inventory fail-safe solution for investors misled by some Carbon Credit Brokers.
Downes added: "...the response rate for a service like this from early members is unsurprisingly strong, with new membership sign-ups, so grows the credibility of what is an adventurous plan. We see a wonderful opportunity in trying to help others - the next step is to attract corporate members and to encourage them to adopt our principles of robust inventory management."
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