Erscheinung:22.08.2018 | Topic Unauthorised business JAC GmbH: BaFin orders the cessation of supporting unauthorised proprietary trading
As of 8 May 2018, BaFin ordered JAC GmbH, Düsseldorf, to cease and desist from supporting cross-border proprietary trading conducted by trading platforms.
Exercising back office activities for unlicensed trading platforms as www.weissfinance.com (Owner: Pairs Ltd., Marshall Islands), www.sternoptions.com (Owner: BP1 LP, Bulgaria) and www.olssoncapital.com (Owner: Carter Enterprises OU, Estonia), JAC GmbH is involved in their proprietary trading without the required authorisation from BaFin. JAC GmbH offers support of and communication with clients on behalf of the platforms.
As of 10 August 2018, JAC GmbHs application for the reinstatement of the suspension of the decision has been denied by the Administrative Court of Frankfurt am Main.
By law, the order is immediately enforceable, but not yet final.