Aggregated News From Investment Management Regulators

Trustsecure GmbH: BaFin issues cease and desist order to immediately stop and wind up unauthorized money remittance business

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Trustsecure GmbH 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. FinTechServices GmbH 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. Among these companies are the operators of unlicensed trading platforms as www.fdmtradeonline.com and www.tradesprime.com.

The administrative order is immediately effective and enforceable though it may still be subject to judicial review.

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