Tag: CySEC fines

iforex fined cysec
February 20, 2018 BY Valentina Kirilova

CySEC fines iForex parent company ICFD Ltd €138,000

The Board of the Cyprus Securities and Exchange Commission (CySEC) has informed the public that, at the meeting held on 13th November 2017, it has decided to impose a total administrative fine of €138.000 to CIF ICFD Ltd for non compliance with several issues (see below). ICFD Ltd operates the iForex Retail FX brokerage brand.…

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CySEC fine
February 09, 2018 BY Valentina Kirilova

CySEC fines Chesterfield Corporate Services Ltd €20,000

The Board of the Cyprus Securities and Exchange Commission (CySEC) has just informed the public that, at its meeting held on 20th November 2017, decided to impose a total administrative fine of €20.000 on the ASP Chesterfield Corporate Services Ltd for noncompliance with: Sections 58(a), 58(c) and 58(e) of the Prevention and Suppression of Money…

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CySEC fine
February 06, 2018 BY Valentina Kirilova

CySEC fines CIF licensed Hoch Capital Ltd €30,000

The Board of the Cyprus Securities and Exchange Commission (CySEC) has just informed that, at the meeting held on 20th November 2017, it decided to impose an administrative fine of €30.000 to the CIF Hoch Capital Ltd (‘the Company’). The fine has been made due to non-compliance with section 36(1)(a) of the Investment Services and…

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CySEC fine
December 20, 2017 BY Valentina Kirilova

CySEC issues €95,000 administrative fine to UFX.com parent Reliantco Investments Ltd.

The Cyprus Securities and Exchange Commission (CySEC) has announced that it has imposed an administrative financial penalty on Reliantco Investments Ltd., an investment firm which operates the UFX.com online Retail FX and CFDs brand. A sum of €95,000 has been imposed on the company for multiple compliance failings that breached the policies and procedures CySEC…

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CySEC fine
December 15, 2017 BY Valentina Kirilova

CySEC fines CIF licensed Centralspot Trading Ltd €50.000

The Board of the Cyprus Securities and Exchange Commission (CySEC) announced that it has decided to impose a total administrative fine of €50,000 to CIF Centralspot Trading Ltd for non-compliance with: Section 28(1) of the Investment Services and Activities and Regulated Markets Law of 2007, as amended from time to time (‘the Law’), as it…

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December 04, 2017 BY Valentina Kirilova

CySEC fines Bank of Cyprus and its former directors for accounting disclosure failures

The Cyprus Securities and Exchange Commission (CySEC) announced that it has imposed a series of fines totaling €595,000 on Bank of Cyprus Public Company (the “Company”) and ten of its former directors - including its former Chief Financial Officer (together, the “directors”) - for individual and collective failings to make adequate provision for doubtful debts…

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July 10, 2017 BY Valentina Kirilova

CySEC fines and prohibits directors of Falcon Brokers Limited from exercising professional financial activity

The Cyprus Securities and Exchange Commission (CySEC) has today announced a series of financial penalties on the directors of Falcon Brokers Limited, and has banned all key persons of the Company from exercising professional activity related to the financial sector for a number of years. This decision marks the conclusion of CySEC’s eighteen-month investigation into…

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