CySEC recalls UFX Markets letter

Do regulators have to also pay fines themselves for making administrative errors?

In a fairly quick and somewhat bizarre about-face to the story we broke earlier today (that CySEC and UFX Markets had “compromised on” an €100,000 fine for UFX Markets’ regulated parent company Reliantco, for undisclosed actions), CySEC has now issued a new letter recalling the original letter. No explanation was given.

We’ll pass on more information as it becomes available.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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CySEC recalls UFX Markets letter


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