The Cyprus Securities and Exchange Commission today announced that it has reached a settlement with General Capital Brokers (GCB) Ltd for possible violations of the law.
The Cypriot regulator detailed that the settlement was reached following an investigation of the period from November 2020 to October 2021 regarding Cyprus Investment Firm (CIF) authorization compliance and general principles and information to clients.
According to the CySEC website, GCB operates the following approved domains: www.gcb.com.cy and www.t1markets.com.
GCB and CySEC have reached a settlement for the amount of €120.000, the official announcement stated. The commission noted that the decision was reached on 19 September 2022.
Earlier in October, CySEC revealed that it has decided to withdraw the CIF authorisation of IFC Investments Cyprus Ltd.
