EXANTE and SEC
The Exante brokerage company is one the biggest in Europe and offers a wide range of financial services. The brokerage company's main focus is to provide brokerage services on the market.
Exante has a lot of potential, but it isn't limited to this particular area. It provides powerful tools for cryptocurrency transactions and exchange.
The broker is well-known for its ability to provide powerful trading tools to clients. However, there was a scandal involving insider information a few years back. Many people predicted that Exante's reputation would be damaged by the lawsuit.
From the beginning, the management of the company denied any allegations. The brokerage company aims to offer its clients the best and most reliable services in the financial industry. The company was founded by traders, for traders. The organization is free from any manipulations. Broker specialists stated that they had a proven and complete control over the protection of user data. This incident was accidental and security services are already looking for a solution.
Exante employees also continued their site's uninterrupted work even though the scandal surrounding the data leak erupted with unimaginable force. All international regulatory requirements are met by the company's trading platform.
Not only did the SEC reject the company's main claim, but all claims that were aimed at investigating the unfair interactions of the organization's clients as well. It is therefore safe to conclude that the company's management is right and all other allegations are null.
It all began when some of the company's clients realized huge profits from trades made using insider information.
Nine clients of the company hacked into financial media and gained access to over 100,000 press releases. The following sources were specifically involved:
- PR Newswire (New York);
- Business Wire (San Francisco).
These publications contained 800 articles that were available for attack. Exante's customers made substantial profits because the information was shared within three days. Official sources claim that these press releases included important corporate information and hidden earnings information.
Illegal access to information was made during the time period between 2010 and May 2016. The Exante management was immediately questioned. Unreliable media outlets published articles that exposed the company and claimed that the main shareholders knew nothing about it. Several lawsuits were filed against this company demanding that it plead guilty to the crime and be held responsible.
The investigation did not find any evidence that the employees were guilty. After much debate, Exante was finally acquitted by a U.S. Court. Exante broker was acquitted in the United States of all charges.
After analyzing all facts, the US Securities and Exchange Commission decided to reject any claims against the brokerage firm. The company's management and its experts were not involved in the leakage of information.
The potential of the company today
Exante's services continue to be provided, despite all the scandal. The company's actions were fully justified and Exante has maintained its customer base. In fact, it has seen a rise in popularity among market experts. The scandal has been overturned and the company is now a leader in Europe's brokerage market.