CySEC extends suspension of Retail Forex broker Best Choice FBC Ltd

Following previous announcement dated 9 August 2016, the Cyprus Securities and Exchange Commission, following a decision at the meeting dated 5 September 2016, announces that
the authorisation of the Cyprus Investment Firm Best Choice FBC Ltd, with number 234/14, will continue to be suspended.

LeapRate reminds that Best Choice FBC Ltd acquired FinFX’s retail clients last year.

While the suspension of the authorisation is in force, Best Choice FBC Ltd:

1. Cannot enter into a business relationship with any person and take upon any new client.
1.1. Cannot receive, transmit and execute any orders from clients (existing or not) for buying financial instruments.
1.2. Cannot provide any investment services in Cyprus or outside Cyprus (in member states and third countries).
1.3. Cannot advertise itself as an investment services provider and have relating advertisements.
1.4. Should mentioned on all of its websites that its CIF licence has been suspended.

2. Best Choice FBC Ltd must, if existing clients so wish, without being considered in violation of section 26(5) of the Law,:
2.1. Close any open positions in relation to clients’ contracts on their maturity date, or on an earlier date if the client so wishes.
2.2. Return to existing clients all of their funds and profits earned, if and when the clients so wish.

Read the full statement here.

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