MFSA Issues Warning Against More Brokers for Unauthorised Activities

After warning against 3 brokers yesterday, the Malta Financial Services Authority (MFSA) today issued another. This warning is regarding a company named Cryp Trade Capital, financial investment trade contracts called 'Buy to Rent', and Opzione Finanza of Antonio Vaccaro.

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The Commissione Nazionale per le Società e la Borsa (Consob) said that it has suspended the investment services offered to the Italian public by Cryp Trade Capital (www.cryp.trade) for a period of 90 days. This is a precautionary measure and is usually followed by a detailed study of the business of the company to make sure that they are compliant with regulations.

Consob has also prohibited the offering of an investment contract by the name of 'Buy to Rent' through the website www.alessiocavalieri.it. This was initially suspended for a period of 90 days and after a detailed study of the service and the contract, Consob decided to prohibit the contract outright.

Consob has also reported that a company named Opzione Finanza of Antonio Vaccaro (www.opzionefinanza.com/) is not authorised to provide any kind of investment service in Italy.

Consob and the MFSA regularly issue warnings against unauthorised companies and products in their efforts to protect the public from being scammed.

They also advise the public to visit their websites to check the list of authorised firms before making any investment decisions.