The Securities and Exchanges Commission (SEC) together with the Commodities Futures Trading Commission (CFTC) have charged a 26 year old based in Austria, Patrick Brunner, and his company 1broker, with failing to register with the SEC/CFTC and with failing to apply Anti-Money Laundering (AML) and Know Your Customer (KYC) identification requirements.
SEC says 1Broker offered contracts for difference (CFDs) based on stocks, like Apple or Tesla. The platform had margins as well, ranging from 15x to as high as 200x, with account registration as easy as entering an email and a password.
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