Erscheinung:17.04.2019 | Topic Unauthorised business Orion Service EOOD/ WISEBANC.COM: BaFin prohibits unauthorised deposit business and orders winding-up.
As the operator of the trading platform www.wisebanc.com, Orion Service EOOD accepts funds from others as deposits or other unconditionally repayable funds from the public.
By doing so, Orion Service EOOD is conducting deposit business within the meaning of section 1 (1) sentence 2 no. 1 of the KWG without the required authorisation from the Federal Financial Supervisory Authority (Bundesanstalt für Finanz-dienstleistungsaufsicht - BaFin).
On 1 April 2019, BaFin prohibited Orion Service EOOD from continuing to provide this type of services and ordered that the unauthorised business be wound up without undue delay.
By law, the order is immediately enforceable but not yet final.
