Financial regulatory body, Bafin, issues caution towards certain financial service providers.
In recent developments, the German Federal Financial Supervisory Authority (Bafin) has taken several measures to ensure investor protection, raising concerns about the activities of several companies.
Terraoil Swiss AG
Bafin has expressed significant concerns about Terraoil Swiss AG's financial instrument, citing issues found in the draft of a securities information sheet, annual reports, media reports, and expert opinions on its planned oil production. As a result, Bafin has banned the marketing, distribution, and sale of shares of Terraoil Swiss AG in Germany.
Share BNB Ltd
Share BNB Ltd, a company offering the purchase of shares or stocks in real estate, promising a fixed return and capital repayment, has been found to operate without a license for its deposit-taking business. Bafin has instructed Share BNB Ltd to stop and wind down its deposit-taking business, and has prohibited the company from operating an unauthorized deposit-taking business in the UK. Bafin advises investors to seek legal advice before transferring investor claims to agreements with UDI companies.
UDI EnergieMix Festzins GmbH & Co KG and Related Companies
Eight UDI companies, including Energie Mix Festzins and Energie Festzins III to IX, are now in insolvency. Bafin has also instructed UDI EnergieMix Festzins GmbH & Co KG, UDI Energie Festzins IV GmbH & Co. KG, UDI Energie Festzins V GmbH & Co. KG, and UDI Energie Festzins VIII GmbH & Co. KG to stop and wind down their deposit-taking business.
Steffen Scherer and Pegasus Development GmbH
Steffen Scherer is offering direct investments in the form of photovoltaic systems without a prospectus. No information was provided regarding any concerns or regulatory issues related to this investment. Similarly, Pegasus Development GmbH's public offer of a bond in the form of an "anleihe" (ISIN DE 000A289EY1) was found to lack an approved prospectus, but no further details about the company's regulatory status were provided.
Ramford Analytics, Canadian Mineral Resources Inc., Planet Clean Recycle Industries Corporation, and Capital Global Markets
Bafin suspects that the required sales prospectus is missing for these companies, which are offering shares for their respective companies. However, no further information about the regulatory status or investor protection concerns for these companies was provided.
Mayfair/Myfair International AG
Bafin suspects that Mayfair/Myfair International AG is offering Klarna shares and exchange-traded shares of Check 24 without a prospectus, but no further details about the company's regulatory status were provided.
For detailed and current information on these companies or individuals, it is advisable to consult financial regulatory authorities' official publications or databases, such as securities commissions or financial market regulators in their respective jurisdictions, or use specialized financial compliance reporting services.
- The finances of Terraoil Swiss AG have raised red flags with Bafin due to issues discovered in their securities information sheet, annual reports, and media reports, leading to a ban on the sale of their shares in Germany.
- Businesses like Share BNB Ltd and Steffen Scherer, who promise fixed returns on investments in real estate or photovoltaic systems respectively, are under scrutiny by Bafin as they operate without the necessary licenses or approved prospectuses for personal-finance considerations.
