Tag: CIF License

April 18, 2016 BY Maria Nikolova

CySEC withdraws CIF license of Falcon Brokers

The Cyprus Securities and Exchange Commission (CySEC) today announces that at its meeting held on March 28, 2016, it decided to revoke the Cyprus Investment Firm (CIF) license of Falcon Brokers Ltd. The withdrawal of the license stems from violation of operational requirements concerning clients' funds. The company, operating via new.falconbrokers.com, has three months to…

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April 07, 2016 BY Maria Nikolova

CySEC suspends ACFX license for one month

The Cyprus Securities and Exchange Commission (CySEC) has flashed its regulatory teeth at Atlas Capital Financial Services Ltd, the parent of Forex broker ACFX, operating via acfx.com. The regulator today announces the suspension of the Cyprus Investment Firm (CIF) authorisation of Atlas Capital Financial Services Ltd, due to the company's possible non-compliance at all times with…

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March 11, 2016 BY Maria Nikolova

CySEC imposes €50,000 fine on CommexFX

Soon after imposing a monetary penalty of €100,000 on Cypriot Forex broker CommexFX, the Cypriot regulator fines the company again. This time the penalty is €50,000. The decision for the fine was made at a CySEC Board meeting on February 1, 2016. The sanction relates to CommexFX's violations of section 139(2) of the Investment Services and…

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March 09, 2016 BY Maria Nikolova

CySEC extends suspension of CIF license of SkyFX/Capital Option

The Cyprus Securities and Exchange Commission (CySEC) today prolonged the suspension of the authorisation of Trademarker (Cyprus) Ltd, which operates via the brands SkyFX and Capital Option. The regulator first suspended the Cyprus Investment Firm (CIF) authorization of Trademarker on February 15, 2016, stating that the company violated the Investment Services and Activities and Regulated…

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March 03, 2016 BY Maria Nikolova

CySEC announces renouncement of CIF authorization of Plasma Enterprises

The Cyprus Securities and Exchange Commission (CySEC) has announced the renouncement of the authorization as Cyprus Investment Firm (CIF) of Plasma Enterprises Ltd, which provides investment services via www.plasma.com.cy. The regulatory announcement, dated March 2, 2016, says that the company renounced the authorization itself on February 22, 2016. The authorization with Νumber 040/04 lapsed from…

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November 04, 2015 BY Maria Nikolova

CySEC starts assessment of money laundering and terrorist financing risks

Cyprus Investment Firms (CIFs) will have to submit information with the Cyprus Securities and Exchange Commission (CySEC), as a part of a National Risk Assessment (NRA) of Anti Money Laundering and Counter Terrorist Financing Measures. The Cypriot watchdog has earlier today published a circular, informing CIFs, among other regulated entities, of the necessity to submit…

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November 02, 2015 BY Maria Nikolova

CySEC keeps authorization of Falcon Brokers suspended

The Cyprus Securities and Exchange Commission (CySEC) today announced that a meeting held on October 26, 2015, its Board has decided to keep the authorization of Cyprus Investment Firm Falcon Brokers Ltd suspended. The regulator initially suspended the CIF license of Falcon Brokers on September 24, 2015, referring to alleged violations of operational requirements related to…

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October 26, 2015 BY Maria Nikolova

Uncertainty mounts over CommexFX as website goes down

After several months during which visitors of the corporate website of Cypriot Forex broker CommexFX saw a message saying “Suspended for 15 days”, all of the information about the broker disappeared from the website as its domain name has expired. Since Friday – October 23, 2015, visitors of commexfx.com have seen an announcement that the…

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