CNMV Cancels Licence of MultiBank Group

You have already known the importance of reviewing a broker's regulatory information before you decide to trade with it. But you should keep in mind that everything will change after the first review! That is to say, a broker's license may change at any time, so it's a must for you to focus on your broker's license movements.

Recently, BrokersView learned that MultiBank Group had a license cancellation of CNMV.

CNMV Cancels Licence of MultiBank Group

CNMV, the Spanish government authority that oversees the country's capital markets, announced the cancellation MultiBank Group’s license as an investment firm in February.

（Screenshot from the CNMV）

The company’s regulatory status changed from "Supervised" to “No longer Authorised”, which means that the firm had decided to cease to provide any investment services in Spanish.

Take a view at the detailed information about MultiBank Group in BrokersView, you will notice that the firm is still regulated by a few regulators including ASIC, BVI-FSC and DFSA.