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Cyprus Forex Regulatory News Cyprus - CySec Regulation News Cyprus Forex Regulatory News


View below the latest forex regulation news from the Cyprus Securities and Exchange Commission (CySec), the forex regulatory authority in Cyprus.

CySEC Urges Brokers with Operations in Spain and Germany to Comply with the Local Regulatory Requirements

18 May 2017, Nicosia, Cyprus - SMN Weekly - The Cyprus Security and Exchange Commission (CySEC) issued several circulars on Wednesday, advising Cyprus Investment Firms (CIFs) who provide financial services in Germany and Spain to consult with their legal advisers in order to ensure compliance with new the regulatory measures introduced by Spanish and German regulators. Under the MiFID regulations every CySEC- regulated investment company is . . .


HiwayFX Owner Lucro Capital Ltd Renounces Cyprus License

18 May 2017, Nicosia, Cyprus - LeapRate - Lucro Capital Ltd, owner of the HiWayFX forex broker operating from the sites www.lucrocapital.eu; www.hiwayfx.eu; www.hiwayfx.com, has renounced its license, the Cyprus Securities and Exchange Commission (CySEC) said. According to the announcement, this happened in the end of April this year. The company has three months to settle and until it does, it remains under the supervision of CySEC. Lucro . . .


CySEC Demands Letter from CIFs Listing in Which Other Countries they Operate

4 May 2017, Nicosia, Cyprus - LeapRate - Cyprus financial regulator CySEC, as part of its crackdown on the operations and business practices of licensed Forex, CFD and Binary Options brokers which operate in the country, has issued a new Circular entitled "Freedom to provide investment and ancillary services and/or perform investment activities in a third country. " . . .


Lebanese Retail Forex Broker BogoFinance gets CySEC CIF License

2 May 2017, Nicosia, Cyprus - LeapRate - It looks like the folks at CySEC have been busy. And, despite CySEC's introduction late last year of more strict rules governing the operations of retail forex brokers e. g. no bonuses, limited leverage, call center location the desire for brokers to become licensed in the EU via Cyprus remains in high demand. After our exclusive report last week that China-focused MT4 broker FX88.com had been issued a . . .


Tradeo and Parent Company UR Trade Fix Ltd Fined 20,000 Euros by CySEC

24 Apr 2017, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Board of the Cyprus Securities and Exchange Commission ('CySEC') wishes to inform investors that, at the meeting held on March 13th, 2017, decided to impose an administrative fine of 20. 000 to the CIF UR Trade Fix Ltd ('the Company') for noncompliancewith section 6(8) of the Investment Services and Activities and Regulated Markets Law of 2007, as amended from time to . . .


CySEC Requires more Disclosure from Forex Brokers on Customer Complaints

12 Apr 2017, Nicosia, Cyprus - LeapRate - Cyprus financial regulator CySEC has announced new disclosure requirements targeted at CIF licensed Forex and Binary Options brokers regarding customer complaints. In its efforts to clean up the sector and beef up its image, dealing promptly and effectively with customer complaints seems to be one of the regulator's main focal points. While CySEC has already required periodic CIF disclosure on customer . . .


CySec Withdraws the Suspension of Traders Trust License

3 Apr 2017, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission, further to its Decision published on 31st March 2017, informs the public that, at its meeting dated 3 April 2017, decided to withdraw the suspension of the authorisation of the Cyprus Investment Firm TTCM Traders Trust Capital Markets Ltd ('the Company'), number 107/09, pursuant to section 26(4)(a) of the Investment Services . . .


Traders Trust License Suspended by CySec

31 Mar 2017, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission ('CySEC') announces that, following a decision in the meeting dated 13. 3. 2017, the authorisation of the Cyprus Investment Firm TTCM Traders Trust Capital Markets Ltd ('the Company'), number 107/09, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force . . .


HYCM Seals European Presence with CySEC Regulation

31 Mar 2017, Limassol, Cyprus - AtoZ Forex - HYCM The FCA-regulated global leader in online capital markets trading, has confirmed that its Cyprus-based entity HYCM Europe is licenced and regulated by the Cyprus Securities and Exchange Commission (CySEC). The new status is now reflected on the company website.


EU Institutions in Catch 22 Regarding IronFX Case

24 Mar 2017, Nicosia, Cyprus - Finance Magnates - The European bureaucratic machine proves unable to protect retail clients. It's been more than three years since the first signs of trouble emerged for clients of one particular retail brokerage in Cyprus IronFX. The company's clients have been all over the news and social media in China, Europe and Latin America, demanding justice and a repayment of their withdrawals. In the meantime the Audit . . .


CySEC Suspends License of Forex Broker BoursePro

17 Mar 2017, Nicosia, Cyprus - LeapRate - Cyprus financial regulator ended the week by issuing a temporary suspension of the CIF license of forex and binary options brokerage group Boursotrade Ltd. Boursotrade operates several brands including BourseBinary (binary options) and BoursePro (retail forex). CySEC's stated reasons for the suspension included non-compliance with:Persons who effectively direct the business of a CIF, andCapital adequacy . . .


CySec Withdraws the CIF License of ACFX

15 Mar 2017, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission ('CySEC') announces that, on its meeting of 13th February 2017, has decided, pursuant to sections 25(1), paragraphs (b) and (c), and 26(4)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the Law'), to wholly withdraw the Cyprus Investment Firm authorization with number CIF 085/07 of . . .


CySEC Slaps 64,000 Euros Fine on PriorFX for Multiple Charges

23 Feb 2017, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Board of the Cyprus Securities and Exchange Commission (CySEC) would like to inform the public that, at the meeting held on 23 January 2017, has decided to impose atotal administrative fine of 63. 000 to CIF PriorFX Ltd for non compliance with the following:Section 28(1) of the Investment Services and Activities and Regulated Markets Law of 2007, as amended from time . . .


FXTM Halves Max Leverage to 500:1 on Back of CySEC Limitations

16 Feb 2017, Limassol, Cyprus - SMN Weekly - Cyprus-regulated forex broker ForexTime, or FXTM, said it has halved the maximum leverage rate it offers for forex instruments to 500:1 from 1,000:1. The move is necessary due to the recent regulatory amendments adopted by the Cyprus Securities and Exchange Commission (CySEC), which supervises the broker. Conditions for clinets' accounts have already been altered to meet the new constraints. Non-forex . . .


CySEC Issues New Rules for Forex Broker Sales and Marketing Practices

2 Feb 2017, Nicosia, Cyprus - LeapRate - Cyprus financial regulator CySEC has just taken its next swing at cleaning up the regulated Retail Forex, CFDs, and Binary Options brokerage sectors. After late last year instructing brokers to stop using deposit bonus promotions and to limit leverage to 50x (for all but expert traders), LeapRate has learned that CySEC has sent a new circular signed by CySEC Chair Demetra Kalogerou (see full text below) to . . .


Alfa-Forex Sets New Default Leverage in Line with CySEC Rules

1 Feb 2017, Nicosia, Cyprus - SMN Weekly - Cyprus-based forex broker Alfa-Forex has started offering a new leverage cap and is performing appropriateness test to assess whether traders should get the cap for experienced or novice traders. With the changes, the broker aims to meet the most recent rules of its home regulator, the Cyprus Securities and Exchange Commission (CySEC). Last year, the CySEC altered forex and binary option regulations, . . .


New CySEC Regulations Force Exness to Limit 'Unlimited' Leverage to 1:200

27 Jan 2017, Limassol, Cyprus - Finance Magnates - Client protection takes center stage as the unlimited leverage that the brokerage was offering is restricted. The Cyprus Securities and Exchange Commission (CySEC) is taking substantial steps to increase client protection with its new regulations. The regulator is set to introduce a new set of requirements that limit the maximum available leverage to clients to 1:200 for experienced traders and . . .


CySEC Issues 150,000 Fine to BDSwiss Holding Ltd

23 Jan 2017, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission ("CySEC") would like to note the following:CySEC, under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, has the power to reach a settlement for any violation or possible violation, act or omission for which there is reasonable ground to believe that it took place in violation of the provisions of . . .


IronFX and the Institutional Government Level Corruption at CySec Revealed

4 Jan 2017, Nicosia, Cyprus - FinanceFeeds News - Sources close to the matter have provided information that demonstrates that the CySec investigation into 1,000 complaints about the missing $176 million in client funds was not conducted by independent body but instead by an IronFX UK lawyer, and that only 20 cases were used as a sample. The conflict of interest renders the entire audit null and void. The question in the minds of pretty much every . . .


Forex Broker Grand Capital Planning to Apply for CySEC License in 2017

3 Jan 2017, St Petersburg, Russia - LeapRate - LeapRate has learned that unregulated Retail Forex and Binary Options broker Grand Capital is preparing its application to receive a CySEC license from Cyprus regulator CySEC early this year. St Petersburg, Russia based Grand Capital is incorporated offshore in Seychelles. The company, founded and still run by online entrepreneur Stanislav Vaneev, has been around for about 10 years, and has grown to . . .


Colmex Pro Fined 100,000 by CySEC for Non-Compliance Issues

27 Dec 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Board of the Cyprus Securities and Exchange Commission (CySEC) would like to inform the public that, at the meeting held on 28 November 2016, it decided to impose a total administrative fine of 100. 000 to CIF Colmex Pro Ltd for non compliance with the following:Section 28(1) of the Investment Services and Activities and Regulated Markets Law of 2007, as amended from . . .


Cyprus' CySEC Seeks to Withdraw CIF License of Forex broker BCFX Broker

20 Dec 2016, Nicosia, Cyprus - SMN Weekly - The Cyprus Securities and Exchange Commission (CySEC) said on Tuesday it has commenced proceedings for the possible withdrawal of the Cypriot Investment Firm (CIF) license of forex brokerage Best Choice FBC Ltd. , doing business as BCFX Broker. The regulator has also extended BCFX Broker's license suspension for the second time. The decision was announced on Thursday, but was adopted on 28 November, 2016.


CySEC Withdraws License of Retail Forex Broker UBFS Invest

13 Dec 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission ('CySEC') announces that, on its meeting of 28th November 2016, has decided, pursuant to sections 25(1)(b), 25(1)(c) and 26(4)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the Law'), to wholly withdraw the Cyprus Investment Firm authorization with number 239/14 of UBFS Invest . . .


CySEC Mandates Default Leverage 1:50 for Forex and CFDs, Kills Bonuses

30 Nov 2016, Nicosia, Cyprus - Finance Magnates - Companies will be able to offer higher leverage if their clients ask for it, suitability test required. The Cyprus Securities and Exchange Commission today issued a new circular that is introducing some changes to some key broker regulations. The financial watchdog is introducing some changes in line with the latest update to the European Securities Markets Authority (ESMA) Q&A relating to the . . .


Retail Forex Broker FXFINPRO has CIF License Suspended by CySEC

24 Nov 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission ('CySEC') announces that the authorisation of the Cyprus Investment Firm 'PFX Financial Professionals Ltd' ('the Company'), with number 193/13, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the Law'), as there are suspicions of an alleged . . .


CySEC Close to Issuing Ban on Retail Forex Deposit Bonuses

22 Nov 2016, Nicosia, Cyprus - LeapRate - LeapRate has learned from people close to the situation that Cyprus financial regulator CySEC is getting set to issue directives which would ban entirely the issuing of bonuses to retail traders. We also understand that CySEC, in the same decision or separately, may also limit leverage allowed to be provided to retail traders by CIF licensed brokers, possibly to as low as 50:1. However we understand that . . .


Failed Broker Falcon Broker's Clients Receive Compensation from CySEC ICF

1 Nov 2016, Nicosia, Cyprus - AtoZ Forex - The Cyprus Securities and Exchange commission (CySEC) has announced that the CySEC board has decided to initiate the compensation payment process by the Investor Compensation Fund for Clients of the Investment Firms (IFs). To be more specific, the Cypriot regulator has published an announcement, suggesting the clients of failed brokerage firm Falcon Brokers to submit their compensation applications. As a . . .


CySEC Fines XTrade Parent Company 225,000 Euros for Bonus and Investment Advice Failures

25 Oct 2016, Nicosia, Cyprus - LeapRate - Cyprus financial regulator CySEC has imposed a fine of 225,000 on XFR Financial Ltd, the parent company of retail forex broker XTrade, for a variety of violations.


CySEC Grants License to Australian Forex Broker Royal Financial Trading

13 Sep 2016, Nicosia, Cyprus - SMN Weekly - The Cyprus Securities and Exchange Commission (CySEC) continues with the publication of its board decisions granting Cyprus investment licenses to new forex brokers by adding Royal Financial Trading to the list. The decision was taken in August and permits the company to provide investment services such as reception and transmission of orders in relation to one or more financial instruments, execution . . .


SkyFX and Capital Option Shut Down, CySEC Appoints Liquidator

2 Sep 2016, Limassol, Cyprus - LeapRate - LeapRate has learned that Cyprus financial regulator CySEC has arranged for the appointment of a provisional liquidator for Trademarker (Cyprus) Ltd. Trademarker was an Israel-owned and operated CySEC-regulated brokerage group, which operated a number of Retail Forex and Binary Options brokerage brands, primarily SkyFX (at skyfx.com) and Capital Option (at capitaloption.com). CySEC had suspended . . .


Social Trading Broker TG Traderglobal gets CySEC License

30 Aug 2016, Nicosia, Cyprus - SMN Weekly - The Cyprus Securities and Exchange Commission (CySEC) said on Tuesday it has granted a Cypriot investment firm (CIF) license to TG Traderglobal Ltd. , a forex social trading platform operator. The license was obtained on 5 August, 2016, as is currently not activated. CySEC licenses are initially non-active, which means that licensees are not allowed to provide the services for which they have received it.


HotForex Fined 105,000 Euros by CySec for Multiple Violations

19 Aug 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Board of the Cyprus Securities and Exchange Commission (the 'CySEC') wishes to inform investors that, at its meeting held on January 18, 2016, decided to impose a total administrative fine of 105. 000 to the CIF HF Markets (Europe) Ltd ('the Company') for noncompliance with the following legislation:the Investment Services and Activities and Regulated Markets Law of . . .


CySEC Suspends License of Best Choice FBC Ltd (BCFX)

9 Aug 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission announces that, following a decision at the meeting dated 25 July 2016, the authorisation of the Cyprus Investment Firm Best Choice FBC Ltd, with number 234/14, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the Law'), as there are suspicions for . . .


MyFXBook CySEC License Renounced

12 Jul 2016, Nicosia, Cyprus - AtoZ Forex - The Cyprus Securities and Exchange Commission (CySEC) states its mission as effectively supervising a healthy development of the financial market and investor protection in Cyprus. One of the activities related to that is ensuring that the Cyprus Investment Firms (CIFs) comply with the regulations. Recently, the regulator announced the MyFXBook CySEC license renounced as it was not used during 12 months . . .


CySEC Guides Brokers to Do Due Diligence when Selecting Liquidity Providers

30 Jun 2016, Nicosia, Cyprus - Finance Magnates - CySEC's move coincides with the timing of a number of regulated brokers losing money with Fortress Prime. CySEC has just published its fifth consultation paper for the year when it comes to regulating the activities of Cyprus Investment Firms. The Cypriot watchdog has turned its sights towards liquidity providers (LPs) and more specifically towards the ways which brokers use to conduct their due diligence.


CySEC to Set New Rules for Use of Liquidity Providers and Market Makers

29 Jun 2016LeapRate - Cyprus financial regulator CySEC has issued a consultation paper regarding new proposed rules governing the use of Liquidity Providers and Market Makers by regulated brokers on the island. cyseclogoThe new rules would still allow Retail Forex brokers on the island to have liquidity and market making relationships with entities outside the country and outside the EU (of which Cyprus is a member). However foreign LPs or . . .


CySEC Continues CIF License Suspension of Forex Broker UBFS Invest

29 Jun 2016, Nicosia, Cyprus - LeapRate - Cyprus financial regulator CySEC's typical modus operandi when faced with a suspension-worthy offense by one of its regulated entities is to suspend the CIF license of that company for one month, giving the company a full 30 days to fix things. Sometimes that happens, but sometimes it doesn't happen. In the case of retail forex broker UBFS Invest (full legal name: UBFS Invest Powered By Moneychoice . . .


CySEC Warns about Linking Broker Pay to Volumes, Deposits or Client P&L

16 Jun 2016, Nicosia, Cyprus - LeapRate - Cyprus financial regulator CySEC has issued a directive regarding remuneration policies and practices at CIF licensed companies, which include the many regulated retail forex and binary options brokers on the island. CySEC logoWhile not directing an outright ban on such practices, CySEC stated that certain types of remuneration seem to create a conflict of interest with clients, and as such are not in . . .


Vinson Financials Renounces CySEC CIF License

7 Jun 2016, Nicosia, Cyprus - LeapRate - The Cyprus Securities and Exchange Commission (CySEC) today announced that, on 23rd May 2016, Forex broker CIF Vinson Financial Ltd, which provided investment services via the domain vinsonfinancials.com, renounced its authorization pursuant to section 24(1)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (the 'Law'). Therefore, the authorization with ?umber . . .


CySEC Panama Papers List of Brokers: 63 CIFs Involved

7 Jun 2016, Nicosia, Cyprus - AtoZ Forex - The Cyprus Securities and Exchange Commission (CySEC) has made progress in its investigation of the CIFs, ASPs, MC UCITS, AIFMs, AIFLNP involved in the Panama papers leaks. At present, a detailed CySEC Panama Papers list of firms got assembled. The case involved the giant leak of 11. 5 million financial documents and legal records. The documents revealed the mechanism that allowed corruption and crime . . .


CySEC Withdraws License of Trademarker (Cyprus) Ltd (skyfx.com)

27 May 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission ('CySEC') announces that, on its meeting of 25th April 2016, has decided, pursuant to sections 25(1)(b),(c) and 26(4)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the Law'), to wholly withdraw the Cyprus Investment Firm authorization with number 151/11 of Trademarker (Cyprus) Ltd . . .


CySEC Suspends License of UBFS Invest

27 May 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission announces that, following a decision in the meeting dated 23 May 2016, the authorisation of the Cyprus Investment Firm 'UBFS Invest powered by Moneychoice Brokers Ltd', with number 239/14, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the . . .



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More Forex Regulation News

CySEC Panama Papers List of Brokers: 63 CIFs Involved

7 Jun 2016, Nicosia, Cyprus - AtoZ Forex - The Cyprus Securities and Exchange Commission (CySEC) has made progress in its investigation of the CIFs, ASPs, MC UCITS, AIFMs, AIFLNP involved in the Panama papers leaks. At present, a detailed CySEC Panama Papers list of firms got assembled. The case involved the giant leak of 11. 5 million financial documents and legal records. The documents revealed the mechanism that allowed corruption and crime . . .


CySEC Withdraws License of Trademarker (Cyprus) Ltd (skyfx.com)

27 May 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission ('CySEC') announces that, on its meeting of 25th April 2016, has decided, pursuant to sections 25(1)(b),(c) and 26(4)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the Law'), to wholly withdraw the Cyprus Investment Firm authorization with number 151/11 of Trademarker (Cyprus) Ltd . . .


CySEC Suspends License of UBFS Invest

27 May 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission announces that, following a decision in the meeting dated 23 May 2016, the authorisation of the Cyprus Investment Firm 'UBFS Invest powered by Moneychoice Brokers Ltd', with number 239/14, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the . . .


CySEC Revokes CIF License of Falcon Brokers After its Prior Suspension

18 Apr 2016, Nicosia, Cyprus - Finance Magnates - A dreary end for the CySEC license of Falcon Brokers after its suspension. The Cyprus Securities and Exchange Commission (CySEC) today announced a decision that it made on March 28th, 2016, to revoke the license of Falcon Brokers Ltd, citing the failure of the Cypriot investment firm (CIF) to comply with applicable CIF rules required to maintain its license status. The news follows after CySEC had . . .


CySEC Toughens Binary Options Brokers Rules While French Complaints from CySEC Regulated Brokers Grow

14 Apr 2016, Nicosia, Cyprus - SMN Weekly - The Cyprus Securities and Exchange Commission (CySEC) released on Thursday a circular which tightens the requirements for the binary options brokers regulated by it. Probably coincidentally, also on Thursday, the ombudsman of France's financial regulator AMF released a report on the increasing number of complaints against Cyprus-regulated forex and binary options brokers. The Cyprus document, signed by . . .


Atlas Capital Financial Services (ACFX) License Suspended by CySEC

7 Apr 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission ('CySEC') announces that the authorisation of the Cyprus Investment Firm 'Atlas Capital Financial Services Ltd' ('the Company'), with number 085/07, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the Law'), as there are suspicions of an alleged . . .


CySEC Withdraws CIF License of CommexFx Ltd

6 Apr 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission ('CySEC') announces that, on its meeting of 25th July 2016, has decided, pursuant to section 25(1), paragraphs (b) and (c), of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the Law'), to wholly withdraw the Cyprus Investment Firm authorisation with number CIF 153/11 of CommexFx Ltd ('the . . .


RoboForex Receives Expanded CySEC License, Offers New Product

3 Apr 2016, Limassol, Cyprus - Finance Magnates - Extended offer accommodates copy trading and RAMM solutions both for clients and partners. RoboForex, the foreign exchange brokerage, has announced the CySEC license expansion for services in the field of portfolio management. As a result, the company is able to broaden its offering to copy trading and Risk Allocation Management Tool (RAMM). Recent changes concern the license number 191/13 issued . . .


CySEC Fines Mayzus 12k over AML Violations

31 Mar 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Board of the Cyprus Securities and Exchange Commission (the 'CySEC') wishes to inform investors that, at its meeting held on February 29, 2016, decided to impose a total administrative fine of 12,000 on the CIF Mayzus Investment Company Ltd (the 'Company') for non-compliance with the following,:1. the Prevention and Suppression of Money Laundering and Terrorist . . .


CySEC Annual Report Marks 2.65 million in Fines Against CIFs

21 Mar 2016, Nicosia, Cyprus - Finance Magnates - While its enforcement actions have been widely successful in filling up the government coffers, clients have been left behind. The Cyprus Securities and Exchange Commission (CySEC) has issued an announcement recapping the achievements of the regulator in 2015. The watchdog has highlighted that the increased efforts including on site checks led to a massive increase in the amount of fines collected . . .


CySEC Fines BDSwiss Forex Broker EUR 5000

16 Mar 2016, Nicosia, Cyprus - SMN Weekly - The Cyprus Securities and Exchange Commission (CySEC) will fine the forex broker BDSwiss (BDSwiss Holding Ltd. ) EUR 5000. According to the announcement on the regulator's website, the decision was taken in December 2015 and is for noncompliance with the Investment Services and Activities and Regulated Markets Law. The Commission decided to impose two separate fines EUR 2500 each, for violations . . .


CommexFX Gets Another 100,000 Fine from CySEC for Unauthorized Operations

23 Feb 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Board of the Cyprus Securities Exchange Commission ('CySEC') wishes to inform investors that, at the meeting held on December 14th, 2015, decided to impose an administrative fine of 100. 000 on the CIF CommexFX Ltd for non-compliance with Section 6(8) of the Investment Services and Activities and Regulated Markets Laws of 2007, as amended from time to time ('the Law'), . . .


CySEC Suspends License of Trademarker (Cyprus) Ltd (skyfx.com)

15 Feb 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission ('CySEC') announces that the authorisation of the Cyprus Investment Firm 'Trademarker (Cyprus) Ltd' ('the Company'), with number 151/11, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the Law'), as there are suspicions of an alleged violation of . . .


CySEC Orders Investment Firms to Obtain Regulatory Approval for Name Changes

26 Jan 2016, Nicosia, Cyprus - LeapRate - The Cyprus Securities and Exchange Commission (CySEC) today issued a Circular regarding name changes of the entities it oversees. The regulator notes that some Cyprus Investment Firms, aka Forex and binary options firms, have been changing their names and/or trade names without any apparent or substantial reason. The watchdog stresses that such changes should not mislead investors about the nature of the business.


Falcon Brokers CIF License Suspension Extended by CySEC

4 Dec 2015, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - Following previous announcements dated 24 September 2015 and 2 November 2015,the Cyprus Securities and Exchange Commission, following a decision in the meetingdated 30 November 2015, announces that the authorisation of the Cyprus InvestmentFirm 'Falcon Brokers Ltd', with number 128/10, continuous to be suspended, pursuantto section 26(4)(b) of the Investment Services and . . .


CySEC Fines Reliantco Investments Ltd (UFX Markets) 123.000 Euros for Non-compliance

27 Nov 2015, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Board of the Cyprus Securities and Exchange Commission (the 'CySEC') wishes to inform investors that, at its meeting held on September 29, 2015, decided to impose a total administrative fine of 123. 000 on the CIF Reliantco Investments Ltd ('the Company) for noncompliance with the following legislation:1. the Investment Services and Activities and Regulated Markets Law . . .


CySEC Fines Depaho Ltd (fxgm.com, gtcm.com) 233k Following a Myriad of Compliance Shortcomings

27 Nov 2015, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Board of the Cyprus Securities and Exchange Commission (the 'CySEC') wishes to inform investors that, at its meeting held on October 12, 2015, decided to impose a total administrative fine of 233. 000 to the CIF Depaho Ltd ('the Company') for non-compliance with the following legislation:1. the Investment Services and Activities and Regulated Markets Law of 2007, as . . .


IronFX Settles to Pay CySEC 335,000 Euro

27 Nov 2015, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission (the 'CySEC'), following its announcement of 6/8/2015, would like to note the following:CySEC, under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, has the power to reach a settlement for any violation or possible violation, act or omission for which there is reasonable suspicion that a person has . . .


CySEC Launches Fast-Track Authorization Procedure

2 Nov 2015, Nicosia, Cyprus - Finance Magnates - Alternative investment funds and undertakings for collective investments are among those eligible for the speedy examining of applications. The Cyprus Securities and Exchange Commission (CySEC) is introducing a new fast-track procedure for the examination of authorization applications for a number of legal entities. These include entities that have already submitted applications in accordance with . . .


Client Funds an Issue as Falcon Brokers Receives CySEC Suspension Letter

24 Sep 2015, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Cyprus Securities and Exchange Commission (CySEC) announces that, following a decision in the meeting dated 21 September 2015, the authorisation of the Cyprus Investment Firm 'Falcon Brokers Ltd' ('the Company'), with number 128/10, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the . . .