Bulgaria Kicks off Insolvency Proceedings Vs Matador Prime

In a fresh twist to the saga of Matador Prime’s Bulgaria-licensed brokerage arm, the Bulgarian Financial Supervision Commission (FSC) has triggered insolvency proceedings against the company based on a decision set by the Sofia City Court, Finance Magnates reported. In the case at hand, insolvency proceedings were opened on March 19, 2019 against Matador Prime, which procured a MiFID license in Bulgaria back in 2015 to passport its services across the European Union. The institutional-oriented group operates as a forex broker and asset management firm with offices in Bulgaria, Spain, and the US. Besides online FX and CFDs trading, the brokerage offers corporate bonds, equity stocks and it focuses on portfolio management and investment services. As Finance Magnates reported in October 2018, the Bulgarian watchdog has suspended the investment license of Matador Prime, which was also written off from the Commercial Register. Read more