Disclosure details -

Federal Financial Supervisory Authority

Year 2002Regulated by Government

Prior to 2002, in Germany the regulation of the financial industry was undertaken by three separate agencies. In May 2002 BaFin was formed, following the passing of the Financial Services and Integration Act. The aim of the Act and the merging of the three agencies was to create one integrated financial regulator that would be able to cover all financial markets. The agencies that merged together were the Federal Banking Supervisory Office, the Federal Supervisory Office for Securities Trading, and the Federal Insurance Supervisory Office.BaFin was given further responsibility following the passing of the Banking Act in 2003 with the aim of increasing customer protection and improving the reputation of the German financial system. The extra powers included monitoring the credit-worthiness of financial institutions and collecting detailed information about them. This particular area of responsibility was shared with the Bundesbank. Currently, BaFin is experiencing a kind of transition, as the responsibility for banking supervision is being taken over by the European Central Bank.

Disclose broker

Danger Unauthorized

EU Option Trade

Disclosure summary

Disclosure matching Website matching
Disclosure time 2022-01-27
Reason for punishment The company is not supervised by BaFin.

Disclosure details

EU Option Finance AG: BaFin investigates against the responsible persons

27.01.2022 | Topic Unauthorised business EU Option Finance AG: BaFin investigates against the responsible persons Pursuant to Section 37 (4) of the German Banking Act (KWG), BaFin clarifies that "EU Option Finance AG", allegedly based in 42781 Haan, Frankfurt am Main, does not hold a license under the KWG to provide financial services. The company is not supervised by BaFin. The content of the website eu-option.com justifies the assumption that EU Option Finance AG offers unauthorized financial services. Providers of banking business or financial services in Germany require a permit according to the German Banking Act (KWG). However, some companies act without the required permission. Information on whether a particular company is licensed by BaFin can be found in the company database. BaFin publishes warnings on its website about companies operating without a license as well as specific measures it has ordered against them. In addition, BaFin also warns against certain transactions or business practices. For example, it has already pointed out the dangers of doing business with unlicensed trading platforms on several occasions.

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Danger

2022-10-14

Warning List - Capitality FS International LLC / Capitality