Aggregated News From Investment Management Regulators

Trading platform BaFin investigates Golden Stocks Capital Ltd


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In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make clear that Golden Stocks Capital Ltd./Golden stocks.Capital Ltd., Marshall Islands, does not hold authorisation under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin. According to the company, its business activities in Europe are conducted by the branch Gstocks EOOD, Bulgaria. This company also does not hold authorisation under the KWG and is not supervised by BaFin.

Based on the contents of the website and on information and documents available to BaFin, there are grounds to suspect that the platform is being used to conduct banking business and/or to provide financial services in Germany without the required authorisation.

Companies that conduct banking business or provide financial services in Germany require authorisation under the KWG. However, some companies operate without the necessary authorisation. Information on whether a particular company has been authorised by BaFin can be found in BaFin’s database of companies.

BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that anyone seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to avoid becoming the victim of fraud.

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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