The Securities Commission of The Bahamas

Year 1995Regulated by Government

The Securities Commission of The Bahamas (“the Commission”)（SCB) is a statutory body established in 1995 pursuant to the Securities Board Act, 1995. That Act has since been repealed and replaced by new legislation. The Commission’s mandate is now defined in the Securities Industry Act, 2011 (SIA, 2011). The Commission is responsible for the administration of the SIA, 2011 and the Investment Funds Act, 2003 (the IFA), which provides for the supervision and regulation of the activities of the investment funds, securities and capital markets. The Commission, having been appointed Inspector of Financial and Corporate Services in 1 January 2008, is also responsible for administering the Financial and Corporate Service Providers Act, 2000.

Disclose broker

Danger Unauthorized

TradeVolt

Disclosure summary

Disclosure matching Website matching
Disclosure time 2021-03-19
Reason for punishment It has come to the attention of the Commission that an entity referred to as TRADEVOLT may be conducting activities that are either registrable/licensable or illegal under one or more of the Acts.

Disclosure details

SECURITIES COMMISSION OF THE BAHAMAS PUBLIC NOTICE No. 7 of 2021 19 March 2021 RE: TRADEVOLT

This NOTICE is issued by the Securities Commission of The Bahamas (“the Commission”) pursuant to its authority under the Securities Industry Act, 2011, the Investment Funds Act, 2019, the Financial and Corporate Service Providers Act, 2020 and the Digital Assets and Registered Exchanges Act, 2020 (the Acts). It has come to the attention of the Commission that an entity referred to as TRADEVOLT may be conducting activities that are either registrable/licensable or illegal under one or more of the Acts. The Commission hereby advises the public that TRADEVOLT and its agents/representatives are not registrants of the Commission and has not made application for registration with the Commission. Therefore, any conduct of registrable activity by this entity, its agents/representatives, in or from this jurisdiction, is a violation of one or more of the Acts. If this entity or its agents/representatives allege to be compliant with the Commission they are committing an offence and are liable for criminal prosecution and/or regulatory sanctions under the relevant laws of The Bahamas. BACKGROUND The Commission has determined that TRADEVOLT’s uses the website www.tradevolt.com . TRADEVOLT claims to be a broker for small accounts that facilitates direct market access. In addition, the website states the physical address of the entity is as follows: Elizabeth on Bay Bay Street Nassau, The Bahamas The Commission’s investigation confirmed that TRADEVOLT is not located at the aforementioned address. Additionally, the entity claims to be operated by a registered financial institution. The Commission has not authorized any registrant or licensee to conduct business for or with TRADEVOLT. Individuals currently (or desirous of) conducting business with TRADEVOLT and/or its agents/representatives, should be cognizant that they are doing so with an entity and/or individuals who are not authorized or regulated by the Commission. Members of the public should exercise extreme caution in considering engagement in securities related activities with TRADEVOLT or its agents. 2 Listings of the Commission’s registrants and licensees authorized to engage in securities, investment funds and financial and corporate service businesses, in or from The Bahamas can be found on the Commission’s website at https://www.scb.gov.bs/registrant-licensee-search/. Further, anyone who has a complaint and/or information in relation to the aforementioned entity should contact: Mr. Gawaine Ward Senior Manager Enforcement Department Securities Commission of The Bahamas E-mail: info@scb.gov.bs or enfdept@scb.gov.bs.

Annex