Following a previous announcement, the Board of the Cyprus Securities and Exchange Commission (CySEC) just informed that, on its meeting dated 17 July 2017, has decided, for procedural reasons, to revoke its Decision of 13 February 2017 for the imposition of administrative sanctions to Mr. Amr Jamal Mohamed Hendawi and more specifically: for the imposition…
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The Board of the Cyprus Securities Exchange Commission (CySEC) just announced that has issued series of fines against former executives of CommexFX with a total amount of €400.000. CySEC has previously fined the company CommexFX, and after numerous suspensions of its license, has finally decided to wholly withdraw the authorisation with number CIF 153/11 of CommexFx Ltd,…
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Pursuant to the Cyprus Securities and Exchange Commission (CySEC)'s announcement, the Investor Compensation Fund for IF Clients (ICF) shared the commencement of the compensation payment process by the ICF to the covered clients of CommexFX Ltd. The address of CommexFX, whose authorisation has been suspended since July 2016, was at 4 Profiti Ilia street, Kanika…
Read moreSoon 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…
Read moreThe Cyprus Securities Exchange Commission (CySEC) today announced that its Board has decided to impose a fine of €100,000 on Forex broker CommexFX Ltd for violations of the Investment Services and Activities and Regulated Markets Laws of 2007. The violations were committed in March and April 2015 and consist of “Dealing on own account” without…
Read moreAfter 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…
Read moreDuring the time the authorization of the Forex broker is suspended, it cannot provide any investment or ancillary services.
Read moreThe Cypriot watchdog cited violations of rules regarding safeguarding of clients' funds and operational requirements concerning clients' funds.
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