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Tag: Commonwealth Bank of Australia

New on the offshore radar: Seychelles-base PU Prime!

CySEC Charlene Lensburg -
For regular readers of FinTelegram, it is no secret that we put a special focus on offshore broker activities in our market monitoring. An efficient way to detect unauthorized offshore brokers is to follow fraudulent marketing campaigns and fake review sites. A fake review site led us to Pacific Union Group a/k/a PU PRIME which acquires clients worldwide. While we do not deem PU Prime as a scam, we established that they offer their regulated financial services unauthorized in Europe and most other regulatory regim

Compliance Issues? The offshore brokers of the Vantage Group!

Compliance Ben -
Vantage (previously VantageFX) is an offshore broker of the Vantage Group besides VT Markets and Moneta Markets. Since the beginning of 2022, Vantage uses new domains and logos. Vantage Group operates with regulated entities in the UK and Australia. The offshore activities are operated via Vantage Global Limited, Vanuatu, and Vantage International Group Ltd, Cayman Islands, with whom clients enter into an agreement. These offshore brokers are also active in Europe, soliciting clients and their funds.

Spanish CNMV warns against offshore broker VT Markets of Vantage Group

ASIC Ben -
Spanish CNMV issued a warning against VT Markets, a broker operating without authorization. The broker's Client Agreement states Vantage International Group Limited, registered in the Cayman Islands, as the operator. This offshore entity is part of the Vantage Group and holds a Caymen Islands Monetary Authority license. The Vantage Group operates other broker brands such as VantageFX, VantageFXoptions, or TradeOnlineProfit via different entities. As a payment processor, we found everpay for bank transfers, for example.

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