Starfish FX loses Cyprus CySEC license

The Cyprus Securities and Exchange Commission (CySEC) has announced that, on 30th September 2016, the CIF Starfish Markets (CY) Ltd lost its authorization with number 286/15.

The company (formally named Starfish Markets) had received a CySEC license back in December, but never activated it.

Starfish Markets is a registered New Zealand company controlled by Malaysian national and Chinese resident Choon Keit Wong.

Last July LeapRate reported that CySEC has amended the procedures for activation of CIF licenses, also making a point to indicate that not all companies (such as Starfish FX) which have received a CIF license have actually activated the license. Activation requires, among other things, an on-site office inspection by CySEC officials.

CySEC’s note on Starfish Markets can be seen here.

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