Clarification Regarding the Warning Issued by the Liechtenstein Financial Market Authority (FMA)

CLARIFICATION: On September 24, 2025, the Liechtenstein Financial Market Authority (FMA) issued a “warning” in response to an increase in inquiries, stating that TGI AG does not hold a regulatory license or registration from the FMA and is not subject to prudential supervision by the FMA.

In this context, a “Notice from the FMA Regarding Investments in Physical Precious Metals” was published on July 5, 2024, stating that the sale, followed by the subsequent safekeeping of physical precious metals and the corresponding reporting of holdings to clients, does not, in principle, constitute an activity requiring authorization under special legislation and therefore does not require authorization from the FMA.

This statement is correct. As a seller of discounted gold, TGI AG is not subject to supervision by the FMA, nor has it ever falsely given the impression that it is.

In fact, the “Warning” issued by the FMA on September 24, 2025, is therefore merely a clarification that, in the absence of regulatory authorization or registration by the FMA, TGI AG may not and will not continue to provide services that require such authorization or registration.