CySEC extends further license suspension of Depaho, operator of FXGM

The Cyprus Securities and Exchange Commission (CySEC) has revealed it has extended the suspension of the CIF licence of Depaho Ltd, parent company of FXGM. The regulator’s announcement follows the suspension of the licence which occurred in the beginning of July and its extension soon after.

Depaho can take proper actions to comply with CySEC’s requirements until 19 November 2021.

CySEC noted that while the company’s CIF licence is suspended, Depaho is not permitted to provide investment services, serve or accept any new clients or advertise itself as a investment services provider.


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 requirements.

On 27 July 2021, CySEC extended the suspension and granted Depaho two months to take steps to comply with the regulatory requirements,

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