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Retail FX

CySEC Revokes CIFs of Arumpro Capital and Greenpost Trading Europe After Renouncements

  • The regulator revoked Arumpro Capital Ltd's CIF authorization on November 11, 2024.
  • Greenpost Trading Europe Ltd's CIF authorization was withdrawn by CySEC on November 4, 2024.
Tuesday, 19/11/2024 | 14:33 GMT by Tareq Sikder
Retail FX

CySEC Alerts CIFs to UKNF Restrictions on Referral and Affiliate Programmes

  • The regulator urges CIFs to comply with the UKNF's October 2023 position on referral practices.
  • The UKNF states that only investment firms or their tied agents are authorized to perform client acquisition tasks.
Tuesday, 12/11/2024 | 12:27 GMT by Tareq Sikder
Regulation

From 2025, CySEC Will Tighten Grip on Investment Firm Capital

  • The regulator adopts EBA guidelines on group capital tests for CIFs, effective January 2025.
  • Despite potential flexibility in capital requirements, it increases regulatory scrutiny for Cyprus-based FX/CFD companies.
Tuesday, 22/10/2024 | 07:38 GMT by Damian Chmiel
Regulation

Cyprus Watchdog Cracks Down on Sloppy AML Reporting, Warns of Sanctions

  • CySEC identified weaknesses in reports from regulated entities, including CIFs and crypto providers.
  • Areas for improvement include analysis of inspection methods and information on high-risk clients.
Wednesday, 07/08/2024 | 08:29 GMT by Damian Chmiel
Retail FX

CySEC Seeks Experts in Tender for Regulatory Oversight of Cypriot Investment Firms

  • Interested parties have until January 31, 2024, to submit applications.
  • This undertaking is valued at €240,000.
Monday, 18/12/2023 | 14:52 GMT by Jared Kirui
Retail FX

CySEC Orders RoboMarkets to Stop Giving “Branded Merchandise” to Clients

  • The Cypriot watchdog said the practice contradicts MiFIR rules and ESMA's directive.
  • The regulator recently disclosed plans to conduct on-site visits on a sample of CIFs.
Wednesday, 23/08/2023 | 12:54 GMT by Solomon Oladipupo
Retail FX

Exclusive: CySEC Offers €140,000 for Investigating Cypriot Investment Firms

  • The regulator is looking for an external expert to conduct the investigations.
  • In 2022, CySEC conducted 119 remote document inspections.
Thursday, 13/07/2023 | 12:58 GMT by Damian Chmiel
Institutional FX

CySEC Reaches €100k Settlement with Institutional Broker BCS Cyprus

  • The regulator probed BCS's compliance with market abuse rules between 2019 and 2021.
  • CySEC has withdrawn at least five CIF licenses since the start of 2023.
Wednesday, 12/07/2023 | 18:07 GMT by Solomon Oladipupo
Retail FX

CySEC Revokes ICF Membership of Brokerages Trilt and RMG Holdings

  • Trilt and RMG's licenses were withdrawn last month and in April 2022, respectively.
  • ICF compensation is open to clients of both firms covered before the termination.
Tuesday, 09/05/2023 | 13:08 GMT by Solomon Oladipupo
Executives

Elie Aoun, CFI Cyprus’ CEO, Joins CySEC’s ICF Admin Committee

  • Aoun has been a CEO at CFI Cyprus for over 10 years now.
  • ICF offers protection to clients of Cyprus Investment Firms.
Friday, 14/04/2023 | 15:58 GMT by Solomon Oladipupo
Retail FX

CySEC Supervised 837 Entities and Imposed €2.9 million Fines in 2022

  • CIFs represent the majority of licensed and sanctioned entities.
  • CySEC's oversight extends to two new types of companies: crowdfunding and PEPP.
Wednesday, 15/03/2023 | 13:08 GMT by Damian Chmiel
Retail FX

CySEC Withdraws License of TradoCenter and Toro Invest Operator

  • The company voluntarily renounced its CIF license.
  • The platforms stopped offering services on 7 August 2022.
Thursday, 02/02/2023 | 09:52 GMT by Arnab Shome
Retail FX

Swissquote Gains CySEC License to Boost European Operations

  • The broker will launch services under the new license next year.
  • It also holds more than half-a-dozen other regulatory licenses.
Wednesday, 07/12/2022 | 12:09 GMT by Arnab Shome
FinTech

CySEC Adjusts Rules on Investment Services Provision in Third Countries

  • The new rules are based on the regulator's Board meeting held last Thursday.
  • The new stipulations displace the rules issued in February 2018.
Tuesday, 29/11/2022 | 17:23 GMT by Solomon Oladipupo
Regulation

CySEC Settles with ROInvesting's Operator Royal Forex for €120K

  • There were possible lapses in compliance between July 2020 and October 2021.
  • The company has already voluntarily renounced its CIF license.
Thursday, 17/11/2022 | 11:44 GMT by Arnab Shome
Op-ed
Op-ed
Retail FX
Op-ed
Op-ed

2022, a Year of Tightening Marketing Regulations for Retail Brokers

  • The COVID-19 pandemic saw a significant rise in online investments and digital crimes
  • Several countries have tightened their financial advertising regulations to protect the public
Wednesday, 16/11/2022 | 09:43 GMT by Jonathan Elkin
Retail FX

CySEC Asks Maxigrid Clients to Submit ICF Compensation Claims

  • Clients must submit claims before April 2023.
  • The license of the brokerage operator was canceled last February.
Thursday, 20/10/2022 | 06:40 GMT by Arnab Shome
Regulation

CySEC Withdraws CIF License of Sharelink Securities & Financial Services

  • The company decided to renounce its license.
  • Sharelink is now operating as a tied agent of Argus Stockbrokers.
Tuesday, 26/07/2022 | 11:42 GMT by Arnab Shome
Institutional FX

CySEC Withdrew Licenses of Dormant ED&F MAN Capital Markets Subsidiary, RMG Holding

  • Both the companies decided to renounce their CIF licenses.
  • RMG has stopped offering its services.
Monday, 18/04/2022 | 11:44 GMT by Arnab Shome
Institutional FX

CySEC Finally Withdraws CIF License of Maxigrid Ltd

  • Maxigrid Ltd is caught culpable for its misconduct.
  • The market regulator reached the decision after thorough investigations.
Friday, 25/02/2022 | 07:07 GMT by Nicholas Otieno
Regulation

CySEC Revised Significant CIF Criteria

  • CIFs with at least €100 million as 4-year balance sheet assets will be termed Significant.
  • These companies need to have higher levels of compliance checks.
Thursday, 10/02/2022 | 12:36 GMT by Arnab Shome
Regulation

CySEC Withdrew ICF Membership of SonaFX and Belight Capital

  • Both the companies lost their CIF license last year.
  • The regulator offered up to €20,000 deposit protection to the clients of ICF members.
Tuesday, 25/01/2022 | 13:17 GMT by Arnab Shome
FinTech

CySEC Imposes Administrative Fine of €3,000 on CIF Atlantic Securities Ltd

  • CySEC has imposed an administrative penalty on Atlantic Securities Ltd.
  • The regulator has decided to impose a fine of €3,000 on the Cypriot broker.
Tuesday, 25/01/2022 | 07:12 GMT by Nicholas Otieno
Brokers

CySEC Withdrew AFX Capital Markets’ License, Fines Directors

  • The regulator fined two directors and two audit firms of the broker.
  • The broker violated several provisions of the regulatory rules.
Thursday, 23/12/2021 | 11:44 GMT by Arnab Shome
Regulation

CySEC to Allow Eligible UK Firms to Operate after TPR Deadline

  • Only companies seeking to establish a European presence will be allowed.
  • It will publish the list of all eligible companies on January 1.
Wednesday, 15/12/2021 | 11:46 GMT by Arnab Shome
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