CNMV Warns Public About Multiple Unregistered Firms and Clone Websites

The Spanish National Securities Market Commission (CNMV) has issued a consolidated warning regarding a series of firms and online platforms that are not authorised to provide investment services or conduct activities reserved for regulated financial institutions in Spain.

According to the CNMV, these entities operate without registration under the Securities Markets and Investment Services Act (Law 6/2023) and therefore cannot offer investment services, foreign-currency transactions, or activities reserved for crypto-asset service providers.

Some names have also been misused as clones of legitimate firms, increasing the risk of confusion among retail investors. In cases too, platforms were promoted through WhatsApp groups, including under names such as “Morgan Stanley” or “Eaton Vance,” despite having no connection to these institutions.

BV Reminds You

Always confirm a firm’s regulatory status before engaging with any investment opportunity. Clone websites and unregistered platforms often mimic reputable institutions to gain trust.

Click to find more brokers regulated by the CNMV.

List of Unregistered or Clone Entities Identified by the CNMV：