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Erscheinung:09.06.2020 | Topic Unauthorised business Yield Enterprise Currency Software OÜ/ Platform proufx: BaFin prohibits unauthorised deposit business and orders winding-up

In a notice dated 22 May 2020, BaFin prohibited Yield Enterprise Currency Software OÜ from conducting deposit business and ordered it to wind up said business without delay.

Yield Enterprise Currency Software OÜ operates the trading platform www.proufx.com for currency pairs and stocks, among other things. In this context, the company accepts funds from others as deposits or other unconditionally repayable funds from the public.

Yield Enterprise Currency Software OÜ is thereby conducting deposit business without the required authorisation from BaFin.

By law, this order is immediately enforceable but not yet final.

By order of 4 November 2019, which is already final and binding, BaFin also prohibited Yield Enterprise Currency Software OÜ from conducting similar business activities on another website.

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