The Cyprus regulator has decided to lift the suspension on 2 November, noting that the company has satisfied the compliance requirements under the relevant provision of The Investment Services and Activities and Regulated Markets Law of 2017 and of Regulation (EU) 600/2014. Depaho’s licence was initially suspended by CySEC in July this year. The suspension…
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However, the company is allowed to complete its own transactions or clients’ which occurred before the suspension, following client instructions. Depaho is also allowed to return funds and financial instruments, attributable to its clients. When CySEC initially suspended its licence,the regulator set a two-week deadline for Depaho to take actions to comply with the legal…
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During the suspension, Depaho is not allowed to conduct investment activities and provide investment services or advertise itself as a provider of such services. CySEC noted that the company is allowed to complete its own transactions and clients’ transaction which are before it, following client instructions and “return all funds and financial instruments which are…
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The Cyprus watchdog went on to list other suspected violations and noted that the investment firm: does not appear to comply at all times with the conditions for authorisation; does not appear to take all reasonable steps to identify and to prevent or manage conflicts of interest between itself, including its managers, employees and tied…
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Following CySEC investigation, the regulator discovered that the violations occurred between January 2018 and July 2019. CySEC revealed that that Depaho violated organisational requirement, as well as CIF authorization provisions, order execution requirements, principles and information of clients and had a conflict of interest. Read More: CySEC issues warnings for websites classicfx24trade, safeoptions24 and others…
Read moreAnother instance of an unregulated forex broker using the trade name of a regulated entity. Cyprus financial regulator CySEC has sent out a release warning investors against Depaho FX, and their website www.depahofx.com, stating that they are not and have never been licensed by CySEC. On Depaho's website the company claims to be based in…
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