Aggregated News From Investment Management Regulators

Arveras UG (haftungsbeschränkt), Berlin: BaFin issues cease and desist order to immediately stop and wind up unauthor-ized money remittance business

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As of 16 April 2020, BaFin issued a cease and desist order to Arveras UG (haftungsbeschränkt), Berlin, to stop and wind up the unauthorized money remittance business immediately.

Arveras UG (haftungsbeschränkt) accepts funds from private persons on its own accounts for the sole purpose of transferring these funds to mainly foreign accounts of companies based abroad.

The administrative order is final.

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Regulator Information

Regulator Name: Federal Financial Supervisory Authority
Abbreviation: BaFin
Jurisdiction: Germany
Website: http://www.bafin.de/EN/Homepage/homepage_node.html/
Email: [email protected]
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