Recently, multinational regulatory agencies led by the FCA have successively released a batch of warning lists or revoked individual dealer licenses. The details are as follows:
I UK FCA adds and updates 16 black platforms
1. Name: FOREXPRUDENT
Website: https://forexprudent.com
2. Name: TEAMTRUSTFX
Website: www.teamtrustfx.com
3. Name: www.stonebridgelimited.com (clone of FCA authorized company)
Website: https://stonebridge-limited.net/ ,
Www.stonebridgelimited.com,
Www.stonebridgelimited.net
4. Name: Tradesalgo Pro
Website: https://tradesalgopro.com/
5. Name: Robertson RX
Website: https://www.robertsonrx.com/
6. Name: CryptoLecs
Website: https://cryptolecs.com/
7. Name: BTI/Bawerk Trading&Investment
Website: www.bti-ic.com, www.bti-ic.net
8. Name: SUPRA ALGO FX
Website: www.suprafxmgtld.com
9. Name: FX Automated BOT TRADING
Website: www.fxautomatedbottrading.com
10. Name: Robertson RX
Website: https://www.robertsonrx.com/
11. Name: Terry Group FX
Website: www.termarygroupfx.com
12. Name: Richardson Lewis/Richardson XE
Website: www.richardsonxe.com,
https://www.richardsonlewis.com/
Www.richardson-lewis.com
13. Name: JPY500
Website: https://jpy500.com/
14. Name: FSC Options
Website: www.fscooptions.com
15. Name: Polar Capital Technology (clone of FCA authorized company)
Website: https://polar-capita
16. Name: Bitbest
Website: https://www.bitwest-group.pro/
II CySEC Revokes Stone Edge Capital License in Cyprus
Last week, the Cyprus Securities and Exchange Commission (CySEC) announced the revocation of Stone Edge Capital Ltd's Cyprus Investment Company (CIF) license number 311/16. CySEC requires Stone Edge Capital Ltd to return all funds, including all profits, to the customer; Review and resolve all customer complaints.
CySEC public information shows that the revocation of the license is due to Stone Edge Capital Ltd's failure to comply with the licensing conditions stipulated in Article 17 (6) of the 2017 Investment Services and Activities and Regulated Markets Act, and the lack of sufficient and appropriate systems and procedures to thoroughly investigate any transactions that may be identified as money laundering and terrorist crimes.
In addition, last week the CySEC also discovered that illegal individuals had impersonated CySEC officials and representatives to engage in fraud. Illegal elements also attempted to use false compensation cases related to CySEC regulatory companies to settle and defraud investors of fees.
III Philippine SEC issues a warning against Gemini
The Philippine Securities and Exchange Commission (PSEC) has issued a notice reminding the public not to invest in Gemini Derivatives, a product of cryptocurrency trader Gemini.
According to Philippine law, derivatives are securities and therefore require registration with PSEC. However, Gemini's operations in the Philippines lack necessary permits and authorizations. In a statement on May 11th, the committee emphasized that merchants, brokers, traders, or agents who sell or promote unregistered securities may face fines of up to 5 million pesos or 21 years in prison.
It is reported that the Gemini Foundation platform has been released in 29 countries, including the Philippines, but does not include developed economies such as the United Kingdom, the United States, and the European Union.
