The German financial regulator, BaFin, has issued a
warning regarding the activities of two companies, including one supposedly
facilitating the trading of Contract for Differences (CFDs). Taurumax.com, a firm purportedly headquartered
in Frankfurt and Vienna, is accused by the regulator of providing financial and investment
services without the necessary authorization.
According to BaFin, Taurumax.com, which supposedly
offers CFD trading services, is not authorized to offer financial and
investment services in Germany. Despite claims of regulatory compliance,
Taurumax.com’s activities reportedly do not meet the standards set by BaFin.
In Germany, entities offering banking, financial, or
investment services must obtain permission from BaFin to operate legally. This
regulatory framework aims to safeguard investors’ interests and maintain the
integrity of the financial sector.
Source: BaFin
Similarly, BaFin has flagged ApolloKapital.com for
offering unauthorized financial services. The German financial watchdog has
cautioned the public against engaging with financial services offered on
ApolloKapital.com.
Despite claims made by ApolloKapital Ltd. Luxembourg,
BaFin’s investigation reveals unauthorized financial and investment services
being provided on the platform.
Navigating Regulatory Compliance
BaFin mentioned: “ApolloKapital Ltd. In the
imprint of the website, it describes itself as a subsidiary of Apollo
Investment Holdco Sarl and, in this context, provides a commercial register
number. A company, Apollo Investment Hodco SA, is actually registered under this
number. However, the corporate relationship described cannot be confirmed; this
is probably a case of misuse of identity.”
Source: BaFin
BaFin’s warning against ApolloKapital.com is anchored
in Section 37 Paragraph 4 of the Banking Act, which mandates regulatory
compliance for entities offering financial services within Germany. BaFin’s
action aims to protect investors from unauthorized financial activities.
The German financial regulator, BaFin, has issued a
warning regarding the activities of two companies, including one supposedly
facilitating the trading of Contract for Differences (CFDs). Taurumax.com, a firm purportedly headquartered
in Frankfurt and Vienna, is accused by the regulator of providing financial and investment
services without the necessary authorization.
According to BaFin, Taurumax.com, which supposedly
offers CFD trading services, is not authorized to offer financial and
investment services in Germany. Despite claims of regulatory compliance,
Taurumax.com’s activities reportedly do not meet the standards set by BaFin.
In Germany, entities offering banking, financial, or
investment services must obtain permission from BaFin to operate legally. This
regulatory framework aims to safeguard investors’ interests and maintain the
integrity of the financial sector.
Source: BaFin
Similarly, BaFin has flagged ApolloKapital.com for
offering unauthorized financial services. The German financial watchdog has
cautioned the public against engaging with financial services offered on
ApolloKapital.com.
Despite claims made by ApolloKapital Ltd. Luxembourg,
BaFin’s investigation reveals unauthorized financial and investment services
being provided on the platform.
Navigating Regulatory Compliance
BaFin mentioned: “ApolloKapital Ltd. In the
imprint of the website, it describes itself as a subsidiary of Apollo
Investment Holdco Sarl and, in this context, provides a commercial register
number. A company, Apollo Investment Hodco SA, is actually registered under this
number. However, the corporate relationship described cannot be confirmed; this
is probably a case of misuse of identity.”
Source: BaFin
BaFin’s warning against ApolloKapital.com is anchored
in Section 37 Paragraph 4 of the Banking Act, which mandates regulatory
compliance for entities offering financial services within Germany. BaFin’s
action aims to protect investors from unauthorized financial activities.
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- Source: https://www.financemagnates.com//forex/bafin-beware-of-these-firms-offering-unlicensed-financial-services/
