CNMV identifies 4 entities operating without authorization in Spain

The National Securities Market Commission (CNMV) of Spain has alerted about four financial entities offering investment services without the required public authorization. The identified platforms are EXCHSEC, ZSYSC, GDLP, and CMC GROUP MARKETS, which do not have formal permission to manage funds or trade financial instruments in the country. Spanish legislation requires prior state validation for capital intermediation. The CNMV indicated that these companies are not registered in the corresponding registry and, therefore, are not authorized to provide investment services. This regulation is based on Law 6/2023 on Securities Markets and Investment Services, as well as the Regulation on the Crypto-Asset Market (MiCA) of the European Union, which requires mandatory licenses for platforms operating in the bloc. The CNMV has taken similar measures in the past against other irregular platforms. To protect citizens, the entity offers free verification tools and urges the public to avoid offers from unauthorized intermediaries.

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