Erscheinung:21.08.2018 | Topic Unauthorised business Carter Enterprises OU (“Olsson Capital”): BaFin orders the cessation of unauthorised proprietary trading
As of 15 August 2018, BaFin ordered Carter Enterprises OU, Estonia, to cease and desist from cross-border proprietary trading.
On its trading platform www.olssoncapital.com, Carter Enterprises OU offers contracts for difference (CFDs) on shares, indices, currencies, commodities and cryptocurrencies for purchase (and sale). In facilitating customers' access to the contracts, the company is conducting proprietary trading within the meaning of § 1 (1a) sentence 2 no. 4 (c) of the German Banking Act (Kreditwesengesetz – KWG) as a service for others without the required authorisation from BaFin.
By law, the order is immediately enforceable.
