Aggregated News From Investment Management Regulators

NorthState has no authorisation under section 32 of the German Banking Act (Kreditwesengesetz – KWG)

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“NorthState” is the name of the platform on the domain www.northstate.io which is allegedly operated by the company Long Creek Partners Ltd., Roseau, Dominica. For its customer support, NorthState gives a Swiss telephone number and an address in Zurich, Switzerland.

NorthState falsely claims that it is supervised by BaFin and sends its customers a certificate as alleged evidence of this. The impression is thus created that the company has been granted authorisation by BaFin. This is not the case.

This news item was originally published by the Federal Financial Supervisory Authority (BaFin DE). For more information, see the Source Link.

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