CySEC fines the Bank of Cyprus Public Company Ltd and its Director LeapRate

October 17, 2016 BY Valentina Kirilova

CySEC fines the Bank of Cyprus Public Company Ltd and its Director

The Board of the Cyprus Securities and Exchange Commission (CySEC) has informed that it has investigated the compliance of Bank of Cyprus Public Company Ltd, its Board of Director Members’ and its General Manager with the Transparency Requirements and has identified the existence of violations and imposed administrative fines. Bank of Cyprus Public Company Ltd has been charged with…

October 03, 2016 BY Valentina Kirilova

CySEC fines Teos Corporate Services Ltd €5.000

The Board of the Cyprus Securities Exchange Commission (CySEC) has informed investors that has decided to impose an administrative fine of €5.000 on the ASP Teos Corporate Services Ltd for violating section 9 of the Law Regulating Companies Providing Administrative Services and Related Matters, as in force (the Law), as it has not appointed a compliance officer with…

March 31, 2016 BY Maria Nikolova

CySEC fines FX broker Mayzus for non-compliance with AML regulations

The Cyprus Securities and Exchange Commission (CySEC) has imposed a €12,000 administrative fine on retail Forex broker Mayzus over non-compliance with anti-money laundering rules. The Board of the Commission made the decision for the fine on February 29, 2016. The company is alleged to have violated the Prevention and Suppression of Money Laundering and Terrorist…

March 30, 2016 BY LeapRate Staff

Binary options broker Anyoption latest to receive CySEC fine at €235,000

As part of the 'corrective measures' agreed to, Anyoption will be moving all call centers to Cyprus.

February 23, 2016 BY Maria Nikolova

CySEC issues next Forex broker fine: €100,000 to CommexFX

The 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…

January 27, 2016 BY LeapRate Staff

CySEC fines Part II: Banc de Binary settles for €350,000, 24option parent fined €156,000

We said that this was coming. Following a wave of reviews of some of the largest Cyprus-based regulated forex and binary options brokers undertaken by financial regulator CySEC over the past few months, we reported in late November on a number of fairly large (by Cyprus standards) > €100,000 fines and settlements issued to a…

November 27, 2015 BY LeapRate Staff

CySEC settles with IronFX, imposes fines on FXGM, EZTrader, Interactive Option, UFX and others

Cypriot financial regulator CySEC has released the first round of its findings following comprehensive reviews of the operations of a number of CySEC-regulated brokers in both the Forex and Binary arenas. CySEC's initial review has resulted in fines for a number of brokers, ranging from €123,000 up to €340,000. In addition to the fines, CySEC…

November 24, 2015 BY Maria Nikolova

CySEC sanctions four directors of former Forex broker FxPulp

The Cyprus Securities Exchange Commission (CySEC) today announced sanctions against four directors of retail Forex broker FxPulp, aka Pulp International Business Ltd, which had its Cyprus Investment Firm license revoked earlier this year. The Board of the Cyprus Securities Exchange Commission has decided to take action against Mr. Said Salem, Mr. Shaher Hasanain, Mr. Savvas Sava…

May 26, 2014 BY Mike Fox

CySEC fines Banc de Binary €10,000 for concealing links between it and another company

Press Release from CySEC (Rough translation from Greek to English Courtesy of Google Translate) The Council of the SEC to inform investors that at its meeting held on 04.07.2014, decided to impose an administrative fine of €10,000 in CIF Banc De Binary Ltd (' the Company') for breach Article 139 ( 2 ) of the Investment Services and…

March 26, 2014 BY Andrew Saks-McLeod

CySec issues €12,000 administrative fine to Cyprus division of Dragon Capital

Cypriot division of Kiev-based institutional and retail brokerage firm found to have not maintained correct anti-money laundering procedure Cypriot regulatory authority CySec has today imposed a €12,000 total administrative fine on the Cyprus division of institutional and retail multi-asset brokerage firm Dragon Capital. The company, whose head office is in Kiev, Ukraine, has operations in…

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