Erscheinung:09.01.2025 | Topic Unauthorised business, Consumer protection Robaca Assets: BaFin investigates purported offer to purchase shares in Zazoon AG and warns of identity fraud
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company Robaca Assets and the services it is offering. The company is providing financial and investment services without the required authorisation under the German Banking Act (Kreditwesengesetz – KWG) or the German Investment Firm Act (Wertpapierinstitutsgesetz – WpIG).
Specifically, Robaca Assets, which operates the website robaca-assets.com, is offering to purchase shares in Zazoon AG from the holders of such shares while claiming to be a department of the Royal Bank of Canada. This information is false and this is a case of identity fraud. Furthermore, the investment firm RBC Capital Markets (Europe) GmbH, Frankfurt am Main, which is registered with BaFin, is in no way connected to Robaca Assets or the offers it is making.
Background information:
Unless an exemption from the prospectus requirement applies, securities may be offered to the public in Germany only if a prospectus approved by BaFin in advance has been published. During the approval process, BaFin checks whether the minimum information required by law is included in the prospectus and whether its content is understandable, coherent and consistent. However, BaFin does not check whether the information contained in the prospectus is correct. Moreover, it does not check whether the issuer is reliable nor does it examine the product in question.
No valid prospectus in relation to any public offering of Zazoon shares has been filed with or approved by BaFin. You can check whether an approved prospectus for an offer of securities to the public has been filed with BaFin by consulting the Prospectuses filed database on the BaFin website.
In addition, companies offering shares of other companies to consumers need prior authorisation from BaFin. Information on whether a particular company has been authorised by BaFin can be found in BaFin’s database of companies.
BaFin is issuing this information on the basis of section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).