The Cyprus Securities and Exchange Commission (CySEC) has reached a settlement with CIF Charlgate Ltd, the operator of Fxview, regarding possible violations of the Investment Services and Activities and Regulated Markets Law of 2017, as amended.

CySEC Investigates Regulatory Compliance

Back in 2020, Finance Magnates reported that Charlgate acquired the domain name fxview.com. The company announced that fxview.com has been in use for three decades, and Charlgate has acquired it for an undisclosed amount. Following the acquisition, the company has been providing retail-focused trading services through the domain.

Απόφαση ΕΚΚ για επίτευξη συμβιβασμού με την εταιρεία Charlgate Ltdhttps://t.co/RCDyDrxUMH

CySEC Decision for reaching a settlement with company Charlgate Ltdhttps://t.co/ncRnoKWe6O

— CySEC - Cyprus Securities and Exchange Commission (@CySEC_official) December 19, 2024

The investigation focused on the Company’s compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with several regulatory requirements. It included examining the authorization requirement for the period from 2020 to June 30, 2023.

CySEC Settles with Charlgate

The review also assessed client fund protection measures, particularly in September 2023. Additionally, the investigation looked into whether the Company fulfilled its obligation to execute orders on the most favourable terms for clients, specifically for the period of July 2023.

Charlgate was contacted through FXview for a comment. As of writing, no comment has been provided.

A settlement of €50,000 has been agreed upon, and the Company has paid the amount. It is noted that all payments from settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term agreements are considered revenue for the Treasury of the Republic and do not constitute income for CySEC.

CySEC Launches New Website

Meanwhile, CySEC has launched a new website aimed at improving the experience for regulated firms, investors, and the public.

The updated platform is designed to enhance accessibility, transparency, and convenience for all users. It features a new design that is adaptable to smart devices.

One of the key features is an upgraded search tool that allows users to quickly find information on regulated firms, both current and past. The website also includes a centralized hub, providing a single resource for regulated entities and other stakeholders. This hub enables users to access important registries and submit information directly to CySEC.