The Comisión Nacional del Mercado de Valores (CNMV) has issued warnings regarding several entities that are not authorized to offer investment services or related activities. The warning was published on the CNMV’s official website on February 10, 2025.
According to the CNMV, the entities in question include Livonia Finance, Swiss Assets Management, Bears Bulls, Prime Signal Finance, Prime Quotes, TRDFX, Trade Multistox, and Invest FX Global Ltd. These organizations are not registered with the CNMV and lack authorization to provide investment services or conduct activities under its supervision.
The CNMV issues such warnings to protect investors from unauthorized entities that provide investment services or engage in financial activities without proper registration or authorization. These entities often operate outside regulatory oversight, increasing the risk of capital loss for investors. Some unauthorized firms falsely use the CNMV’s name to present themselves as legitimate, leading to a misleading sense of security. The CNMV also collaborates with foreign regulators to share warnings about such entities, aiming to inform investors and reduce risks. Additionally, it offers a search engine for investors to verify whether an entity is authorized.
According to DataBitlaw, all registered Virtual Asset Service Providers (VASPs), including Binance and Bit2Me, are excluded from the CNMV grey list. This list identifies entities operating in Spain without regulatory authorization or registration as part of a regulatory update. The update applies broadly to entities that have transitioned to regulated status under the Markets in Crypto-Assets Regulation (MiCA). This adjustment reflects these entities’ alignment with European Union regulatory requirements during the grandfathering period.
The CNMV oversees Spain’s securities markets to ensure transparency, accurate pricing, and investor protection. Created by the 1988 Securities Market Law, it supervises securities issuers, investment service providers, and collective investment schemes while focusing on market stability and system solvency. It manages public records of market participants and advises the government and Ministry of Economy on securities matters. The CNMV actively engages with international organizations like IOSCO (International Organization of Securities Commissions), ESMA (European Securities and Markets Authority), and FSB (Financial Stability Board).
