CNMV warns against unauthorised entities and clone investment platforms

The National Securities Market Commission has issued new warnings regarding a number of entities operating without authorisation, including several suspected “clone firms” impersonating legitimate financial institutions.

According to the regulator, these entities are not registered in its official records and are therefore not permitted to provide investment services or carry out regulated financial activities in Spain.

Among the cases identified, certain platforms falsely claim associations with authorised firms. For instance, “EVER IA” (clone) has no connection with EVER CAPITAL INVESTMENTS, S.V., S.A., while “INTERACTIVE BROKERS GROUP” (clone) is unrelated to Interactive Brokers Ireland Limited, despite using similar branding and web structures.

The CNMV also highlighted the growing use of multiple domains, alternative brand names and third-party promotion channels—including WhatsApp groups—to distribute investment offers and attract clients. Some entities operate through several linked websites or use commercial names rather than identifiable legal entities, increasing the difficulty of verification.

In addition, certain schemes have been promoted using misleading references to well-known institutions or through social media environments that simulate investment communities.

The CNMV reminds investors that dealing with unregistered entities exposes them to significant risks, including lack of investor protection and potential loss of funds. Investors are strongly advised to verify the regulatory status of any firm before engaging in investment activities.