The Brazil Securities Commission (CVM) has ordered the immediate suspension of public offers of securities intermediation services by 24 online platforms and issued a market warning that they are operating without authorisation. CVM’s Superintendence of Market and Intermediaries Relations (SMI) identified indications that Arkana, Avalon, Avant, Blend, Capital Binary, Casatrade, Drex, Elysium, Gala, Investin, Kryvo, Lite, Metatake4, Neoxbroker, Nexus, Nyrion, On, Opex, Option Broker, Shark, Softbroker, Suabroker, Verso Binary and Zeamy, using the websites listed in the notice, have been seeking to attract clients resident in Brazil to conduct transactions in securities. CVM stated that these entities are not authorised to intermediate securities or to raise investor funds for investment in securities, and issued the determination through Declaratory Act CVM 24,167.

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