The Spanish National
Securities Market Commission (CNMV) released an updated warning list today
(Monday) featuring four new entities. Among them is Oasis Trading, which had
previously caught the attention of the Australian Securities and Investments
Commission (ASIC).
CNMV Joins
Other Regulators’ Warning Against Oasis Trading
According
to CNMV records, Oasis Trading is “not registered in the corresponding
registry of this Commission” and therefore is “not authorized to
provide investment services or other activities subject to the CNMV’s
supervision”.
Oasis Trading’s official website claims to operate as a
“cryptocurrency exchange” licensed by ASIC under number 315931270.
However, no entity with this number exists in the commission’s registry. While a company named Oasis Trading Pty. Ltd. was previously authorized by ASIC, that license expired
long ago and had a different number.
Furthermore, ASIC issued a warning about
Oasis Trading’s activities in 2020, stating that the entity was listed on their
“Companies you should not deal with” list. The regulator noted that
the company made unsolicited calls and sent emails about investing, financial
advice, credit, or loans without holding the required Australian financial
services or credit licenses.
Other
Companies on CNMV’s Warning List
The CNMV
warning list includes three additional entities besides Oasis Trading:
MoneraCap, Roctec Europe, and Ave Trade. Ave Trade is particularly noteworthy
as its name bears a striking resemblance to the popular FX/CFD firm AvaTrade.
However, both entities maintain different websites and service profiles, with
Ave Trade claiming to specialize in cryptocurrencies.
Recent CNMV Warnings
The CNMV,
Spain’s financial regulator, recently issued another warning against nine unauthorized
investment firms, reinforcing its efforts to address unregulated financial
service providers in the Spanish market.
The
regulator identified several entities offering investment services without
proper authorization, including Turkdex, Macan Holdings, Apex Investments, and
Fortunex Algo. Additional firms, such as Market4s, Daily Brokers, FCapital24,
Trade Republica, and Alpha-Learning, were also flagged for operating without
being registered in the CNMV’s official registry.
In a
separate warning, the CNMV highlighted the presence of copycat firms mimicking
established trading brands like LCG, and JFD, which are well-known among
European retail traders. Despite increased regulatory efforts, the
proliferation of clone firms remains a persistent challenge.
These
actions reflect a broader regulatory focus on protecting retail investors in
Spain. Earlier this year, the CNMV introduced stricter rules governing the
marketing and distribution of CFDs, further emphasizing its commitment to
ensuring the integrity of the financial market.
The Spanish National
Securities Market Commission (CNMV) released an updated warning list today
(Monday) featuring four new entities. Among them is Oasis Trading, which had
previously caught the attention of the Australian Securities and Investments
Commission (ASIC).
CNMV Joins
Other Regulators’ Warning Against Oasis Trading
According
to CNMV records, Oasis Trading is “not registered in the corresponding
registry of this Commission” and therefore is “not authorized to
provide investment services or other activities subject to the CNMV’s
supervision”.
Oasis Trading’s official website claims to operate as a
“cryptocurrency exchange” licensed by ASIC under number 315931270.
However, no entity with this number exists in the commission’s registry. While a company named Oasis Trading Pty. Ltd. was previously authorized by ASIC, that license expired
long ago and had a different number.
Furthermore, ASIC issued a warning about
Oasis Trading’s activities in 2020, stating that the entity was listed on their
“Companies you should not deal with” list. The regulator noted that
the company made unsolicited calls and sent emails about investing, financial
advice, credit, or loans without holding the required Australian financial
services or credit licenses.
Other
Companies on CNMV’s Warning List
The CNMV
warning list includes three additional entities besides Oasis Trading:
MoneraCap, Roctec Europe, and Ave Trade. Ave Trade is particularly noteworthy
as its name bears a striking resemblance to the popular FX/CFD firm AvaTrade.
However, both entities maintain different websites and service profiles, with
Ave Trade claiming to specialize in cryptocurrencies.
Recent CNMV Warnings
The CNMV,
Spain’s financial regulator, recently issued another warning against nine unauthorized
investment firms, reinforcing its efforts to address unregulated financial
service providers in the Spanish market.
The
regulator identified several entities offering investment services without
proper authorization, including Turkdex, Macan Holdings, Apex Investments, and
Fortunex Algo. Additional firms, such as Market4s, Daily Brokers, FCapital24,
Trade Republica, and Alpha-Learning, were also flagged for operating without
being registered in the CNMV’s official registry.
In a
separate warning, the CNMV highlighted the presence of copycat firms mimicking
established trading brands like LCG, and JFD, which are well-known among
European retail traders. Despite increased regulatory efforts, the
proliferation of clone firms remains a persistent challenge.
These
actions reflect a broader regulatory focus on protecting retail investors in
Spain. Earlier this year, the CNMV introduced stricter rules governing the
marketing and distribution of CFDs, further emphasizing its commitment to
ensuring the integrity of the financial market.
This post is originally published on FINANCEMAGNATES.
