CySEC Withdraws CIF License of Sharelink Securities & Financial Services

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) announced on Tuesday the withdrawal of the Cyprus Investment Firm (CIF) license of Sharelink Securities & Financial Services Ltd.

It came after the company decided to 'expressly renounce' the license.

Sharelink Securities & Financial Services was operating on the CIF since mid-2003. The company offered to the provision of local and international financial services and investment banking. In addition, it offered stockbroking, proprietary trading of securities, asset management, private equity and other ancillary services.

Last year, the investment banking team of Sharelink broke off and joined Prudens Group, establishing a new corporate finance arm there.

For offering brokerage and online trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term service, Sharelink partnered with Argus Stockbrokers, another CySEC-regulated financial service firm. Sharelink is operating as a tied agent of Argus.

CySEC and CFDs Brokers

Meanwhile, CySEC is tightening its supervisory rules for retail brokerages operating from its jurisdiction. It issued a warning to CFD brokers recently, ordering them to improve practices or face enforcement actions, which may include monetary fines and even suspension or withdrawal of licenses in extreme cases.

Additionally, the regulator is vigilant against non-compliance on the part of brokerages. It settled with several brokers for possible violations of compliance rules. In July alone, it settled with Triangleview Investments, BCM Begin Capital Markets, and Forex TB.

Moreover, it withdrew the license of Finteractive, which operated the FXVC trading brand, as the company decided to renounce the license.

The Cypriot regulator is also concerned about the popularity of 'finfluencers' and the rising 'gamification' of retail trading. It even launched a campaign to educate retail traders.