Cyprus Watchdog Revokes License of P.M. Investment Capital

The Cyprus Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term) announced today that pursuant to its meeting on July 6, 2015, it was decided to wholly withdraw the Cyprus Investment Firm (CIF) authorization from P.M. Investment Capital Limited. The regulator explained that this was done due to the company’s non-compliance with five sections of the local Investment Services and Activities and Regulated Markets Law.

Investors have been urged by the watchdog to exercise caution in their dealings with the websites www.cedarfinance.com, www.regaloptions.com and www.brokeragecapital.com, via which the company was active, as they are no longer operated by a CySEC regulated entity.

The commision decided to take this action given a number of accusations levied against P.M. Investment Capital, including: non-notification of a material change (website addresses), non-compliance with initial capital, organizational structure, head office location and organizational requirements of the Law. As well as for non-notification of the intention to provide investment services freely within the territory of another EU Member State and/or a third country, for withholding material information (non-disclosure of company’s activation, and for the non-submission of capital adequacy forms).

CySEC has demanded that the company cease providing investment and ancillary services and settle, within a period of three months, its obligations arising from the services that are no longer allowed to be provided or performed. At the time of writing this article, the websites of Cedar Finance, Regal Options and Brokerage Capital are all up and running without any special notice.

Back in December 2013, CySEC had already taken actions against binary options broker T.B.S.F BEST STRATEGY FINANCE LIMITED, the legal entity established in the Republic of Cyprus owned by Cedar Finance.