The Brazilian Securities and Exchange Commission (CVM) has issued a warning of irregular conduct to Zero Markets Brasil Consultoria e Análise de Valores Mobiliários Ltda. Five other companies related to the platform are also in the autarchy's sights. All of them offer crypto assets.
They are Zero Markets Brasil Securities Consulting and Analysis Ltda., Zero Securites PTY LTD, Zero Markets LLC, Zero Markets (NZ) Limited, Zero Financial PTY LTD and Zero Financial LTD.
fonte: Zero Markets
The CVM's Superintendence of Market and Intermediary Relations (SMI) identified evidence that the above companies use the Zero Markets brand and present themselves as responsible for the page www.zeromarkets.com/br. Thus, including profiles on social networks, the platforms attempt to attract clients residing in Brazil to carry out transactions with securities.
The determination includes the immediate suspension of public offerings of securities intermediation services by Zero Markets. In addition to financial assets such as dollars and euros, the company offers trading in cryptocurrencies.
CVM determination and daily fine of R$1,000
Through CVM Declaratory Act 22,733, the Agency ordered companies to immediately suspend any public offering of securities intermediation services, directly or indirectly, including through websites, applications or social networks, due to the fact that it is not part of the distribution system provided for in art. 11 of Law 6,385, the announcement states.
If Zero Markets Brasil and the other companies mentioned do not comply with the CVM's decision, daily fines may reach R$1,000. The agency asks that investors residing in Brazil receive an investment proposal from the companies mentioned to contact the CVM. The recommended channel is the Citizen Service Center (SAC).
When submitting a complaint, it is important for the victim to provide as many details as possible about the offer and, if possible, identify the people involved.
Zero Markets displays warning that it does not have CVM authorization
On the Zero Markets website there is a notice that “ZERO Markets is not authorized by the Brazilian Securities and Exchange Commission (“CVM”) to directly offer intermediation and/or distribution services for securities issued abroad to investors residing in the Federative Republic of Brazil, which is why no reference made here should be understood as a direct offer of services to such investors by Zero Markets.”
fonte: Zero Markets
Multiple jurisdictions
Currently, each of these SEC-listed companies is in a different jurisdiction. ZERO Markets (NZ) Limited, for example, is regulated and licensed by the Financial Markets Authority (FMA) of New Zealand. It issues and provides derivatives to New Zealand residents only.
ZERO Securities Pty Ltd is regulated by the Australia Securities and Investments Commission. Another CNPJ is authorized, in fact, only in Mauritius, while Markets LLC is registered with the FSA of Saint Vincent and the Grenadines.
Our services are not available to residents of specific jurisdictions, including Afghanistan, Cuba, Iraq, Iran, Liberia, Libya, Myanmar, Palestine, Russia, Somalia, Syria, Sudan, Yemen, Spain, European Union, Malaysia, Indonesia, Vietnam, Thailand and the United States, as well as any jurisdictions included in the FATF, EU or UN sanctions lists, the company explains on the website.
We reached out to Zero Markets, but so far we have not received a response regarding the CVM alert.
The article CVM warns of irregularities for Zero Markets Brasil and five other companies was first seen on BeInCrypto Brasil.