Cyprus Watchdog Unsuspends the Licenses of Leadtrade and TTCM

The Cyprus Securities and Exchange 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) has announced that it has decided to withdraw the suspension of the authorisation of the Cyprus Investment Firm (CIF) from two companies.

The Cypriot financial regulator says that both Leadtrade Ltd and TTCM Traders Trust Capital Markets Ltd have complied with the provisions of the law regarding 'Own' funds and 'Capital adequacy ratio'.

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CySEC has been very active recently, suspending many CIF licenses of entities that don't follow its mandatory guidelines. Just last Friday it informed the public that it handed down a suspension of licenses to several Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and binary options brokers.

During a suspension period, brokers are not allowed to execute any orders from clients for buying financial instruments or provide any investment services in or outside of Cyprus. The suspended firms are also not permitted to advertise themselves as an investment services provider or have relating advertisements. They must even close all open positions in relation to clients’ contracts on their maturity date, or at an earlier date if the client so wishes, as well as return any funds and profits earned to existing clients.

CySEC further stipulates that any firm that has its licence suspended should mention on all its websites that its CIF licence has been suspended.

Update

This week, CySEC decided to withdraw the suspension of the authorisation of the Cyprus Investment Firm Dragon Options Ltd.