Tag: CySEC

forex customer complaint
April 12, 2017 BY LeapRate Staff

CySEC requires more disclosure from Forex brokers on Customer Complaints

Cyprus financial regulator CySEC has announced new disclosure requirements targeted at CIF licensed Forex and Binary Options brokers regarding customer complaints. In its efforts to clean up the sector and beef up its image, dealing promptly and effectively with customer complaints seems to be one of the regulator's main focal points. While CySEC has already required…

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April 07, 2017 BY Valentina Kirilova

CySEC releases another impersonators scam warning

Cyprus financial regulator CySEC puts out some version of a warning against impersonators appearing as CySEC officials in an attempt to scam unsuspecting investors quite often these days. CySEC again reminded investors and the general public of the following: From time to time it comes to the attention of CySEC that unknown entities or individuals present…

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cysec license suspended
April 06, 2017 BY Valentina Kirilova

CySEC withdraws CIF license of CommexFx Ltd

After prolonging license suspensions and fines, the Cyprus Securities and Exchange Commission (CySEC) announces that, on its meeting of 25th July 2016, has decided to wholly withdraw the Cyprus Investment Firm authorisation with number CIF 153/11 of CommexFx Ltd, operating at www.commexfx.com. The reasons: The Company had not complied with section 28(1) of the Law…

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April 04, 2017 BY Valentina Kirilova

CySEC withdraws license suspension of Dragon Options Ltd

Just one day after Cyprus financial regulator CySEC announced that it has withdrawn the CIF license suspensions of Leadtrade Ltd, and TTCM Traders Trust Capital Markets Ltd., same thing happened with Dragon Options Ltd. The brokerage group had its CIF license suspended by CySEC last week, with the regulator citing capital level concerns. CySEC had given…

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cysec license suspended
March 17, 2017 BY Valentina Kirilova

Boursotrade Ltd. license suspended by CySEC

The Cyprus Securities and Exchange Commission (CySEC) just announced that the authorisation of the Cyprus Investment Firm Boursotrade Ltd, number 235/14, is suspended, as there are suspicions of an alleged violation of: section 28(1) of the Law, due to the Company’s possible non compliance at all times with the authorization and operating conditions down in…

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banned
March 17, 2017 BY LeapRate Staff

CySEC gets tougher on bonus schemes, banning referral payments, trading competitions, and cash rebates

Cyprus financial regulator CySEC has issued an information circular, providing what it calls "additional guidance" to CIF licensed brokers on the types of bonus incentives which are no longer permissible to be offered to retail clients. In its original announcement on November 30 regarding new rules governing bonuses and trading leverage (which was exclusively revealed by LeapRate…

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March 15, 2017 BY Valentina Kirilova

ACFX license (finally) suspended by CySEC, a year after closing

The Cyprus Securities and Exchange Commission (CySEC) announced that, on its meeting of 13th February 2017, has decided to wholly withdraw the Cyprus Investment Firm authorization with number CIF 085/07 of Atlas Capital Financial Services Ltd. (ACFX). The company is operating at https://www.acfs.eu and https://www.acfx.com. ACFX basically shut down its operations, with several million dollars…

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CySEC issues another impersonators scam warning
March 09, 2017 BY LeapRate Staff

CySEC issues another impersonators scam warning

Every several months, it seems, Cyprus financial regulator CySEC puts out some version of a warning against impersonators appearing as CySEC officials in an attempt to scam unsuspecting investors. In the latest iteration, recent instances came to the attention of CySEC which involve correspondence from the US, Canada and the Dominican Republic in which persons…

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cysec cif licence suspension
February 24, 2017 BY Valentina Kirilova

CySEC deletes Olies Corporate Services Ltd from register

The Cyprus Securities and Exchange Commission (CySEC) just announced that, on 21st December 2016, the Company Providing Administrative Services Olies Corporate Services Ltd, waived its authorization pursuant to section 16(1) of the Law Regulating Companies Providing Administrative Services and Related Matters of 2012, as in force. Therefore, the authorization with Number 145/196 lapsed as from…

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