BaFin orders Equinox Investors to stop investment brokerage activities
Germany’s Federal Financial Supervisory Authority (BaFin) has issued an order against Equinox Investors.
The order, issued on February 9, 2023, instructs Equinox Investors to discontinue its investment brokerage and financial portfolio management without a permit.
The regulator explains that the company makes unsolicited calls to people residing in Germany and makes recommendations regarding the purchase of shares. Equinox Investors then places the customers with Internationale Beratungs GmbH. As a result, purchase contracts for the sale of shares are concluded.
Equinox Investors also states on its website equinoxinvestors.com that it is an investment manager. The company informs there that it offers investments in (among other things) bonds, stock and money market products.
The BaFin order obliges the company to cease its unauthorized business immediately.