Luxembourg’s CSSF warns of unlicensed OTC Markets broker

The Commission de Surveillance du Secteur Financier (CSSF), the watchdog responsible for Luxembourg's financial markets, has issued a warning against a firm under the name OTC Markets, claiming to be authorized by the regulator. 

​According to the public advisory dated November 16, the CSSF warns the public of the website www.otc-makets.eu, which claims to be established at 121 avenue de la Faïencerie, L-1511 Luxembourg, offers investment services under the name of OTC Markets. In fact, this entity is not licensed to carry out business within its jurisdiction.

The CSSF informs the public that the entity which presents itself as OTC Markets is not regulated by the CSSF and that it has not been granted any authorisation to provide investment services or other financial services in or from Luxembourg.

This is not the first time that the CSSF has issued warnings against websites falsely claiming to have something to do with Luxembourg. The local authorities pride themselves on the status of the country as a banking safe haven, and any company which declares itself as being registered or licensed by the CSSF is sure to be on the radar very quickly.