Pursuant to Article 4 para. 7 of the Bankwesengesetz (BWG; Banking Act) and Article 92 para. 11 of the Wertpapieraufsichtsgesetz 2018 (WAG 2018; Securities Supervision Act 2018), the Austrian Financial Market Authority (FMA) may disclose to the general public by publication on the Internet, in the official gazette “Amtsblatt zur Wiener Zeitung”, or in any other newspaper with nationwide circulation, that a particular natural or legal person (person) is not entitled to carry out certain banking transactions (Article 1 para. 1 BWG) or investment services transactions (Article 3 para. 2 nos. 1 to 4 WAG 2018), provided that said person has given cause for such action and informing the general public is deemed necessary and reasonable with regard to possible disadvantages of the person concerned.<\/p>
By publication in the official gazette “Amtsblatt zur Wiener Zeitung” of 6 April 2018, the FMA hereby informs, that<\/p>
SG Innovation Ltd (XMarkets.com)<\/strong><\/p> Trust Company Complex, Ajeltake Road,<\/p> Ajeltake Island, Majuro, Marshall Islands, MH 96960<\/p> www.xmarkets.com<\/p> is not entitled to provide investment services or banking services in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others (Art. 1 para. 1 no. 7 BWG), nor to provide commercial portfolio management (Art. 3 para. 2 no. 2 WAG 2018).<\/p>\n","protected":false},"excerpt":{"rendered":" The FMA warns investors against concluding investment and banking transactions requiring a licence with this provider.<\/p>\n","protected":false},"author":60,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[81],"tags":[],"class_list":["post-17432","post","type-post","status-publish","format-standard","hentry","category-warning"],"yoast_head":"\n