The Securities and Exchange Commission (SEC) has taken action against six online trading platforms for allegedly providing illegal and unregistered investment and finance services or products. In a circular released on Monday, the SEC disclosed that the blacklisted firms were not registered with them and did not have authorization to carry out investment services.
The affected companies include Prime Invest, FXBoxed, New Finance LLC, New Fx Limited, Axi24, Evolve Consulting LCC, and Trust Fund-Mining Global Pty Limited.
The SEC warned members of the public to be careful in transacting with these companies. This move follows a similar action taken by Italy’s securities regulator, Commissione Nazionale per le Societa’ e la Borsa (CONSOB), which blacklisted five e-commerce websites for providing unauthorized and fraudulent financial services.
The websites, including CMS or capmarketstrategy.io, Bitsterzio, Invest Atlas, Ether-Arena Limited, and Ether-Arena Limited operating under veneab.co, were blocked by internet service providers in Italy. CONSOB advised potential investors to exercise caution when making investment decisions.