Aggregated News From Investment Management Regulators

GreenRiver OU/morgantrust.eu: BaFin prohibits unauthorised proprietary trading

Report/Flag

Please complete the required fields.



In a notice dated 29 September 2020, BaFin ordered Greenriver OU, Tallinn, Estonia, to cease its cross-border proprietary trading immediately.

GreenRiver OU operates the trading platform “Morgan Trust” for contracts for difference (CFDs) and crypto currencies. The platform can be accessed through the domain morgantrust.eu.

The company is thus conducting proprietary trading within the meaning of section 1 (1a) sentence 2 no. 4 (a) of the German Banking Act (Kreditwesengesetz – KWG) on a commercial basis without having obtained authorisation from BaFin, as required under section 32 (1) of the KWG. It is therefore conducting unauthorised business activities.

By law, the order is immediately enforceable but not yet final.

Source link

Regulator Information

Recent Articles

Fraudsters Posing as Brokers or Investment Advisers – Investor Alert

The FBI Criminal Investigative Division and the United States Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) warn of fraudsters swindling investors while preten

Announcement: FMA imposes a sanction against S Immo AG for delayed publication of a proprietary transaction

The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 16,000.00 by means of a penal order under...

Origin Capital Group (clone of FCA authorised firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

best-isa-comparison.com

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Financial Stability Report (2020 annual report)​

Compliance Details javascript:commonShowModalDialog(‘{SiteUrl}/_layouts/itemexpiration.

Get the latest from Regulatory.News in your inbox!

×