Spain’s National Securities Market Commission has added FXTrading Corp to its list of illegally operating companies.
The CNMV
warns
that FXTrading Corp is not registered to provide investment services in Spain.
FXTrading Corp was added to the CNMV’s list of companies offering unregistered securities on January 21st, 2019.
BehindMLM
reviewed FXTrading Corp
in December 2018 and, based on its business model, concluded it was likely a Ponzi scheme.
FXTrading Corp is currently being heavily promoted in Brazil and South Korea. Neither countries’ regulators have yet to take any action against the scheme.
🤖 Quick Answer
What action did Spain's CNMV take against FXTrading Corp?Spain's National Securities Market Commission added FXTrading Corp to its list of illegally operating companies on January 21st, 2019, warning that the entity lacks registration to provide investment services within Spanish territory.
Why was FXTrading Corp flagged as suspicious?
Independent analysis by BehindMLM concluded that FXTrading Corp's business model characteristics were consistent with those of a Ponzi scheme based on its operational structure and investment mechanics examined in December 2018.
Where is FXTrading Corp currently active?
FXTrading Corp is being actively promoted in Brazil and South Korea, where regulatory authorities have not yet implemented enforcement measures against the scheme's operations.
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