Financial authorities issue caution regarding certain financial service providers
In the world of finance, it's crucial for investors to be aware of the regulatory status of the companies they choose to invest in. Here's a roundup of some companies that have recently come under scrutiny.
Terra Finance, a financial entity, is currently considered unregulated and unsafe, with no top-tier license[1]. This suggests it likely operates illegally in Germany and/or the UK. However, there is no direct publicly available information from BaFin or UK regulatory journals specifically about enforcement actions or sanctions against Terra Finance for illegal or unlicensed activities.
Another company, Share BNB Ltd, offers the purchase of shares or stocks in real estate, promising a fixed return and capital repayment. But it's important to note that this is a deposit-taking business, and Share BNB Ltd does not have the necessary license. Bafin, the financial supervisory authority in Germany, has banned Share BNB Ltd from operating an unauthorized deposit-taking business in the UK.
The Bavarian UDI companies UDI EnergieMix Festzins GmbH & Co KG, UDI Energie Festzins IV GmbH & Co. KG, UDI Energie Festzins V GmbH & Co. KG, and UDI Energie Festzins VIII GmbH & Co. KG have been advised to stop and wind down their deposit-taking business. Eight of these UDI companies (Energie Mix Festzins and Energie Festzins III to IX) are now in insolvency.
Terraoil Swiss AG, a company offering investments in the oil sector, has raised concerns for investor protection due to the draft of a securities information sheet submitted by the issuer, annual reports of the Terraoil Group, and various media reports. Bafin has prohibited the marketing, distribution, and sale of shares of Terraoil Swiss AG in Germany, and sees significant concerns for investor protection in the company.
Steffen Scherer is offering an investment in the form of direct investments with the designation of photovoltaic systems without a prospectus to investors. Bafin suspects that the required sales prospectus is missing for several companies, including Ramford Analytics, Canadian Mineral Resources Inc., Planet Clean Recycle Industries Corporation, and Capital Global Markets.
It's always advisable for investors to conduct thorough research before making any investment decisions. For the most authoritative and up-to-date information, we recommend consulting the official BaFin (German Federal Financial Supervisory Authority) and FCA (Financial Conduct Authority in the UK) websites or their latest enforcement journals.
[1] Source: Financial Safety Experts' Advisory
Investors must exercise caution when considering Terra Finance, an unregulated financial entity, as it likely operates illegally in Germany and/or the UK. share BNB Ltd, a company that offers the purchase of shares in real estate with a promise of fixed returns, is not authorized to conduct a deposit-taking business, a fact that has already resulted in UK regulatoryaction against it.
