Case File: HORIZONS 28 – Spain’s CNMV Calls It in January 2026

HORIZONS 28 entered the registry with a European flag: on January 26, 2026, Spain’s National Securities Market Commission (CNMV) issued a warning against the operation, assessing it as providing investment services without authorisation.

What the record shows

A recent operation, a national-regulator warning, and the usual claimed trappings of a trading platform. The record preserves the intake date and claimed site alongside the CNMV flag.

Warnings travel worse than scams do

Here is the asymmetry this file illustrates: the scam solicits victims in a dozen countries at once, but the warning appears on one national list, in one language. A German or Canadian victim would never think to search Spain’s CNMV alerts — and the operator counts on that.

• Case registries exist to collapse that asymmetry: a single lookup reads across records regardless of which regulator flagged first.
• This is also why “I checked my own country’s regulator and found nothing” is incomplete — absence from your national list means only that your regulator has not caught up yet. See why not-listed is not safe.

The takeaway

Fraud is cross-border by default; your checks should be too. Run the registry lookup first, the licence check second, and if you have exposure to this or any flagged operator, the SARFund case registry is where verified reports and open investigations are tracked across jurisdictions.