Tag: CIF License

XTrade suspended forex CySEC
May 30, 2017 BY Valentina Kirilova

CySEC announces partial suspension of Xtrade Europe Ltd CIF license

Cyprus financial regulator CySEC has announced the 'partial suspension' of the CIF license granted to retail forex broker XTrade Europe Ltd., which operates the XTrade.com and XForex.com websites. The reason for the suspension? Marketing issues. CySEC stated that XTrade's marketing materials and ads do not seem to be fair, clear and not misleading. And by issuing…

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cysec license suspended
April 06, 2017 BY Valentina Kirilova

CySEC withdraws CIF license of CommexFx Ltd

After prolonging license suspensions and fines, the Cyprus Securities and Exchange Commission (CySEC) announces that, on its meeting of 25th July 2016, has decided to wholly withdraw the Cyprus Investment Firm authorisation with number CIF 153/11 of CommexFx Ltd, operating at www.commexfx.com. The reasons: The Company had not complied with section 28(1) of the Law…

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April 04, 2017 BY Valentina Kirilova

CySEC withdraws license suspension of Dragon Options Ltd

Just one day after Cyprus financial regulator CySEC announced that it has withdrawn the CIF license suspensions of Leadtrade Ltd, and TTCM Traders Trust Capital Markets Ltd., same thing happened with Dragon Options Ltd. The brokerage group had its CIF license suspended by CySEC last week, with the regulator citing capital level concerns. CySEC had given…

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cysec cif licence suspension
March 21, 2017 BY Valentina Kirilova

Hellenic Bank Ltd renounces CySEC license

The Cyprus Securities and Exchange Commission (CySEC) announced that, on 15th March 2017, the Cyprus Investment Firm Hellenic Bank (Investments) Ltd renounced its authorization pursuant to section 24(1)(b) of the Investment Services and Activities and Regulated Markets Law of 2007. As stated in the renouncement letter of the Company, which provided investment services via the…

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cysec license suspended
March 17, 2017 BY Valentina Kirilova

Boursotrade Ltd. license suspended by CySEC

The Cyprus Securities and Exchange Commission (CySEC) just announced that the authorisation of the Cyprus Investment Firm Boursotrade Ltd, number 235/14, is suspended, as there are suspicions of an alleged violation of: section 28(1) of the Law, due to the Company’s possible non compliance at all times with the authorization and operating conditions down in…

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March 15, 2017 BY Valentina Kirilova

ACFX license (finally) suspended by CySEC, a year after closing

The Cyprus Securities and Exchange Commission (CySEC) announced that, on its meeting of 13th February 2017, has decided to wholly withdraw the Cyprus Investment Firm authorization with number CIF 085/07 of Atlas Capital Financial Services Ltd. (ACFX). The company is operating at https://www.acfs.eu and https://www.acfx.com. ACFX basically shut down its operations, with several million dollars…

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cysec cif licence suspension
December 20, 2016 BY Valentina Kirilova

CySEC extends suspension of Best Choice FBC Ltd

Following the announcement dated 29th September 2016, the Cyprus Securities and Exchange Commission (CySEC), after a decision at the meeting dated 28th November 2016, announced that the authorisation of the Cyprus Investment Firm Best Choice FBC Ltd will continue to be suspended. The company’s CIF authorisation will remain suspended until CySEC decides whether to withdraw…

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November 18, 2016 BY Valentina Kirilova

CySEC changes CIF license application process

The Cyprus Securities and Exchange Commission (CySEC) has informed all interested parties who have already submitted and/or intend to submit an application to obtain CIF, UCITS Manager and external AIF Manager authorisation (license of operation), that, following the CySEC Board’s decision dated 14 November 2016, the authorisation procedure has been amended as follows: 1. CySEC will…

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November 07, 2016 BY Valentina Kirilova

ICF to start the compensation payment process to the covered clients of Falcon Brokers Ltd.

Pursuant to a relevant decision of the Cyprus Securities and Exchange Commission (CySEC), the Investor Compensation Fund for IF Clients (ICF) has announced the commencement of the compensation payment process by the ICF to the covered clients of Falcon Brokers Ltd. LeapRate has already reported of Falcon Brokers losing its CIF license. The address of the…

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