Almost a year after Cyprus lifted restrictions on domestic deposits, capital control rules relating to international deposits in Cyprus will follow on April 6, signaling the end of the measures taken in March 2013 when Laiki Bank and Bank of Cyprus became insolvent resulting in a depositor bail-in
Read MoreTag: Cyprus bailout
CySEC fines ex Laiki and Marfin CEO Efthimios Bouloutas EUR 100,000 for misstatements
Represents one of the largest fines ever doled out by CySEC to an individual. We’ve become somewhat used to the…
Read MoreForex brokers find ways to exploit the Cyprus situation
Ads and landing pages have been popping up with “We’re not in Cyprus” type ads. Forex brokerages (at least some)…
Read MoreCyprus details how FX brokers can avoid the ‘haircut’
CySEC details disclosure rules required to prove funds in segregated bank accounts in fact belong to individual investors. As we…
Read MoreCyprus FX brokers allowed to skirt customer privacy laws
CySEC allows FX brokers to release client names and data to banks, to allow for release of client funds. LeapRate…
Read MoreCySEC working to free client funds at Cyprus FX brokers
Central Bank of Cyprus has agreed to not haircut segregated bank accounts over €100,000, where the ultimate beneficiaries are small individual…
Read MoreCyprus final bailout agreement is worse for the FX brokers
Unlike the original proposal, uninsured depositors will likely lose around 40% (not 10%) at Cyprus’ two largest banks. The new…
Read MoreCyprus FX brokerages scramble to reassure clients
The website home pages of several leading Cyprus FX and Binary brokers now lead with “Your Funds Are Safe” ads….
Read MoreCyprus-EU bailout and the FX and Binary Brokers
Wall Street Journal quotes LeapRate research in its article on Cyprus FX brokers and the bailout. First of all, we’d…
Read MoreThe Cyprus EU bailout – will it affect FX brokerages?
Saxo Bank co-CEO’s comments question whether the 10% confiscation of client funds at Cyprus banks will also apply to Cyprus…
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