Bulgaria regulator FSC investigating Retail Forex broker UT Markets


The Financial Supervision Commission (FSC) of Bulgaria has issued a warning to investors concerning the offering of services without the requisite license by UT Markets, an entity operating trough the website utmarkets.com, as well as its related companies – CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd.

In this regard, as well as due to the numerous reports and complaints received, the FSC has further informed that an inspection of the activity carried out in the Republic of Bulgaria by UT Markets and the companies related with this platform, is under way.

Within the framework of this inspection there are no impounded amounts of cash and/or blocked bank accounts of persons inspected by the FSC.

The FSC does not prohibit persons associated with UT Markets, CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. to restore monies to their counterparts. In this regard, the FSC draws special attention to the fact that such inspection aims to establish only whether the inspected companies have been engaged in any illegal activity on the territory of the Republic of Bulgaria, in violation of the Markets in Financial Instruments Act. Therefore, the actions of the inspection team are not and could not be used as a justification of a refusal on behalf of UT Markets, CFD Global Ltd., STP Marketing Ltd. and T-Marketing Ltd. to restore monies to damaged persons.

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Bulgaria regulator FSC investigating Retail Forex broker UT Markets

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