Last week, the Brazilian Securities and Exchange Commission (CVM) issued a warning to the capital market and the general public about the irregular activity of an asset broker, including cryptocurrencies, in Brazil.
According to the authority’s alert, the company Smarttool Trading SC Limited, which operates in Brazil through the website axiainvestments.com, does not have authorization to operate in the Brazilian securities market.
As reported by the CVM, the Superintendence of Market and Intermediary Relations (SMI) identified signs that the company seeks to attract clients residing in Brazil to carry out securities operations.
“Attention! The company Smarttool Trading SC Limited does not have authorization from the CVM to intermediate securities or raise funds from investors for investment in securities.
CVM says brokerage cannot operate in Brazil
Through CVM Declaratory Act 22,000, the authority ordered the broker to immediately suspend any public offer of securities intermediation services, directly or indirectly. This includes offering services through websites, applications or social networks. This is because, according to the authority, the brokerage is not part of the distribution system provided for in art. 15 of Law 6,385.
If it does not comply with the CVM’s determination, the company and the people who are identified as participating in the irregular acts will be subject to a daily fine of R$1,000.00.
In a note, the CVM asked that investors who receive investment proposals from the aforementioned company, contact them through the Citizen Assistance Service (SAC). Providing details of the offer and identifying the people involved will enable the Authority to act promptly in the case.
Finally, the regulatory agency highlighted that the alert in question consists only of a stop order. In other words, it is a precautionary measure, with the aim of preventing or correcting abnormal market situations detected by the Authority.
Therefore, it should not be confused with penalizing the indicated people. After all, in the case of infractions, the penalty requires the conclusion of an administrative sanctioning process with a condemnatory decision.
Sobre a Smarttool Trading
According to the broker Smarttool Trading website, the company “provides the right tools to fully support traders of all levels.”
“In addition to advanced platforms, enjoy daily market analysis, trading signals, comprehensive educational materials, trading sessions with leading experts and much more!”, says the website.
The broker claims to operate with stocks, indices, cryptocurrencies (Bitcoin, Ether, Dogecoin and Cardano) and Commodities.
On the Reclame Aqui platform, Axia Investing (the name under which it operates in Brazil) accumulates a series of complaints. The company has a “Not Recommended” reputation on the platform. The main complaints involve problems with withdrawals, customer “abandonment”, poor service, disrespect towards the customer, among others.
Source: https://www.criptofacil.com/cvm-alerta-para-atuacao-irregular-de-corretora-de-criptomoedas-no-brasil/
