Tag: FXdirects

No, IFMRC is not a regulator but a scam indicator!

Compliance Charlene Lensburg - September 22, 2021

BaFin found that the operator of the DeliTraders scam, Miva Solutions LLC, would have a certification from the International Financial Market Regulation Center (IFMRC). However, BaFin points out that IFMRC is neither a nationally nor internationally legitimized supervisory authority. The IFMRC website has no imprint, nor is there any indication of the organization's place of business. It is also unclear who founded it or is a member of this association. In this respect, IFMRC is not a regulator.

The Consob Monday – Italian Regulator orders black-out of seven financial sites

CONSOB tamir - June 21, 2021

Monday is the Consob day. This Monday, the Italian regulator ordered the blackout of seven new websites that abusively offer financial services. Five of these websites act as financial intermediation; two sites offer financial products without the required prospectus. Unfortunately, Consob is currently the only EU regulator to take this effective measure. However, it would be desirable if more member states would create a legal basis for blocking illegal or fraudulent websites.

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