Spain's National Securities Market Commission (CNMV) has issued a new warning to 14 financial companies promoting investment services without proper registration.。These unregistered companies are not authorized by CNMV and cannot operate legally in Spain。

CNMV Warning14 unlicensed financial companies

CNMV noted that the companies mentioned in the latest warning are not registered in Spain and cannot provide financial services or investment activities.。Under local regulations, companies must register with market watchdogs before they can legally operate in the country。

CNMV's warning helps investors identify undocumented companies with possible fraud。Spanish residents are advised to verify their registration status before using the company's services。Investors can contact CNMV Investor Services by phone or email to confirm whether the institution is officially registered。

The Spanish regulator, one of the most active in the European market for notifying illegal business entities, recently issued a warning about cloning。Cloning is when an entity or individual tries to use details of an authorized company to commit fraud, making people believe they are employees of that company.。This is a relatively new tactic in which fraudsters use the names, "company registration numbers" and addresses of companies and individuals authorized by regulators to imply that they are real.。

Spain extends CFDs restrictions

CNMV recently imposed more restrictions on the marketing, distribution and sale of contract for difference (CFD) instruments。The new regulations, which came into effect on July 20, 2023, prohibit CFD marketing marketing from being defined as a business process that identifies, predicts and meets customer needs.。In Forex trading, marketers perform a wide range of functions to help secure, secure or retain customers。In particular, newer Forex brokers also need marketers, including the use of sales agents, call centers, event sponsorships, public figures, etc. to promote CFDs。

CNMV said the additional measures were reasonable and modest.。These rules are further expanded on the basis of the CFD restrictions introduced by Spain in 2019 and by the European Securities and Markets Authority at EU level in 2018.。