The Financial Supervisory Authority of Norway has published a warning against using services from Better Experience (BE), Sagemaster and DeepSage, stating that the firms do not have permission to provide investment services in Norway but still market such services. Because BE is not authorised, Finanstilsynet does not supervise the company or its offerings, and investors may lose all of the money they invest through these platforms. The marketing is described as including large events abroad, with videos and images used in social media advertising to convey an exclusive lifestyle. The authorities say the actors appear closely linked, with DeepSage developed by Sagemaster and promoted as an AI-driven mentoring service covering, among other things, market-trend analysis, trading strategies and market assessments, and Sagemaster’s own channels indicating cooperation with BE. The offerings appear to include automated and algorithm-based trading, copy trading, trading signals and strategies that resemble investment advice, and access to trading in foreign exchange, cryptoassets and other products via third-party platforms such as Tagmarkets, which is registered in Mauritius and is not authorised to offer investment services in Norway. Finanstilsynet also reminded the market that it is illegal to provide investment services, including investment advice, without the necessary authorisation, and that assisting such activity is prohibited. Norway’s Consumer Authority added that advertising an illegal service is also prohibited and that breaches can lead to fines or police reports; it noted that it has not concluded BE is an illegal pyramid scheme but sees several similarities with unlawful pyramid schemes, and it cautioned against relying blindly on AI-driven investment tools given reliability and potential market-manipulation risks.

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