Philippines SEC accuses eToro of offering unregistered securities, operating without licenses, and faces potential penalties.
The Philippines SEC accuses eToro, the online trading platform, of offering unregistered securities and operating without licenses, facing potential penalties of up to 5 million PHP ($88,300) or 21 years imprisonment for violating securities laws. The platform, available in 140 countries, has over 30 million registered users worldwide. The company's plans for a US listing may be affected by this regulatory issue.
April 05, 2024
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