The Montenegro Capital Market Authority issued a public alert warning that firms and individuals may be offering capital market activities and services without the required authorisation and published a list of persons it has identified, or has reasonable grounds to suspect, are operating without a licence or regulatory approval. The notice urges citizens and investors to exercise particular caution when making investment decisions, to verify that any counterparty is registered and authorised to provide the relevant services before entering into a business relationship, and to contact the authority through official channels if in doubt. The authority described the publication of the list as preventive and part of its ongoing work to protect investors and support market integrity and transparency in Montenegro.