CySEC revokes fines against former executive of CommexFX

CySEC settlement

Following a previous announcement, the Board of the Cyprus Securities and Exchange Commission (CySEC) just informed that, on its meeting dated 17 July 2017, has decided, for procedural reasons, to revoke its Decision of 13 February 2017 for the imposition of administrative sanctions to Mr. Amr Jamal Mohamed Hendawi and more specifically:

  • for the imposition of an administrative fine of €50.000,
  • for the prohibition to exercise professional activity related to the financial sector for a period of five (5) years, and to re-examine the particulars relating to that person

LeapRate reminds that CySEC has previously fined the company CommexFX, and after numerous suspensions of its license, has finally decided to wholly withdraw the authorisation with number CIF 153/11 of CommexFx Ltd, operating at earlier this year.

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