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CySEC Flags Surge in Fraud as Scammers Exploit Regulator's Identity
- The Cypriot regulator warns of fraudulent websites impersonating the institution.
- It also alerts investors to fake celebrity endorsements of investments on social media, urging caution.
Thursday, 22/08/2024 | 07:45 GMT by
Damian Chmiel
CySEC Overhauls Digital Onboarding Rules, Harmonizes with EU Standards
- The regulator has issued a policy statement highlighting important elements such as technology neutrality, risk management, GDPR compliance, and information security.
- It focuses on flexibility in using Remote Customer Onboarding Solutions, promoting efficiency and compliance while improving customer experience.
Thursday, 15/08/2024 | 08:55 GMT by
Michael Thirer
CySEC Slaps €740,000 Fine on 1Markets Operator for Multiple Breaches
- This is another significant fine following the €200K penalty imposed on IC Markets 3 weeks ago.
- These two fines alone account for nearly 50% of all penalties from 2023 imposed by the Cypriot regulator.
Wednesday, 07/08/2024 | 10:23 GMT by
Damian Chmiel
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
CySEC Claims IC Markets Offered 1000:1 Leverage: Fined €200k
- The EU-regulated entity allegedly onboarded traders under the offshore regulated entities, offering 1000:1 leverage.
- However, IC Markets has denied the basis of the regulator's decision, vowing to appeal the matter.
Friday, 19/07/2024 | 15:19 GMT by
Arnab Shome
Exclusive: “Prop Trading Will Fall under Robust Regulation at Some Point”, CySEC Chair
- Dr. George Theocharides confirmed to Finance Magnates that “there will certainly be more scrutiny on [prop trading] firms in the near future.”
- He further pointed out that there will be “a lot of scrutiny across Europe” under MiCA and seeks judicial reform in Cyprus.
Tuesday, 16/07/2024 | 10:44 GMT by
Yam Yehoshua
CySEC Multimillion Fines on Bank of Cyprus Officials Overturned after 10 Years
- Cyprus court annuls 2014 fines imposed on Bank of Cyprus, citing a breach of impartiality in the original decision.
- The ruling marks a turn in a long legal battle over the bank's investments in Greek gov bonds.
Monday, 15/07/2024 | 08:47 GMT by
Damian Chmiel
CySEC Unveils Regulatory Sandbox, Invites FinTech and RegTech Applications
- The Sandbox is open for applications and aims to advance financial, regulatory, and supervisory technologies.
- Over 500 stakeholders, including regulatory bodies and financial institutions, attended the online launch event.
Friday, 12/07/2024 | 14:36 GMT by
Tareq Sikder
CySEC Launches Thematic Review on CIFs Handling of Uninvested Funds
- The review will assess how CIFs handle funds, including methods, disclosures, and compliance.
- The regulator will send CIFs a detailed questionnaire, requiring timely responses and documentation.
Tuesday, 09/07/2024 | 09:24 GMT by
Tareq Sikder
Three Months after Settlement with CySEC, Fintailor Investments Renounces License
- The regulator announced that the company is seeking a voluntary renunciation of the authorization.
- In February, it agreed to pay €200,000 regarding potential breaches of anti-money laundering laws.
Wednesday, 15/05/2024 | 12:20 GMT by
Damian Chmiel
Notesco Agrees to €100,000 Settlement with CySEC over Compliance Issue
- Following an inspection conducted in 2023, CySEC decided to settle on January 29, 2024.
- The regulator stressed settlements require suspicion of violation, with no judicial review indication.
Tuesday, 02/04/2024 | 11:27 GMT by
Tareq Sikder
CySEC's 2024 Agenda: Prioritizing Cross-Border Activities and CFD Risk Mitigation
- The regulator plans to bolster its supervisory framework by meticulously assessing risks among registered entities.
- CySEC is preparing for upcoming regulatory changes, including the Markets in Crypto-Assets Regulation.
Wednesday, 27/03/2024 | 13:35 GMT by
Jared Kirui
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