Tag: CySEC

November 04, 2021 BY Steffy Bogdanova

CySEC lifts license suspension of Depaho, operator of FXGM

The Cyprus regulator has decided to lift the suspension on 2 November, noting that the company has satisfied the compliance requirements under the relevant provision of The Investment Services and Activities and Regulated Markets Law of 2017 and of Regulation (EU) 600/2014. Depaho’s licence was initially suspended by CySEC in July this year. The suspension…

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CySEC
October 25, 2021 BY Steffy Bogdanova

CySEC extends further license suspension of Depaho, operator of FXGM

However, the company is allowed to complete its own transactions or clients’ which occurred before the suspension, following client instructions. Depaho is also allowed to return funds and financial instruments, attributable to its clients. When CySEC initially suspended its licence,the regulator set a two-week deadline for Depaho to take actions to comply with the legal…

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CySEC fine
August 16, 2021 BY Steffy Bogdanova

CySEC fines London Capital Group Cyprus $40K

CySEC stated: The Board of the Cyprus Securities and Exchange Commission (CySEC) wishes to  inform the public that, at its meeting held on the 5th April 2021, decided to impose an administrative fine of €40.000 to CIF London Capital Group (Cyprus) Ltd (the ‘Company’) for non-compliance with article 16(2) of Regulation (EU) 596/2014 on market…

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CySEC
August 13, 2021 BY Steffy Bogdanova

CySEC warns against imposter website in India

CySECr also pointed out that all the announcements on the imposter website are only until October 2020 and the real CySEC website has announcements up until this month, August 2021. CySEC urged the public to be very careful and ensure they are using the official website, especially when payments for exams or other purposes through…

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CySEC
July 29, 2021 BY Steffy Bogdanova

CySEC extends license suspension of FXGM operator, Depaho

During the suspension, Depaho is not allowed to conduct investment activities and provide investment services or advertise itself as a provider of such services. CySEC noted that the company is allowed to complete its own transactions and clients’ transaction which are before it, following client instructions and “return all funds and financial instruments which are…

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CySEC
July 26, 2021 BY Steffy Bogdanova

CySEC warns against impersonators

The regulator reminded that these scams are seen often and could be a part of a bigger, sophisticated online campaign designed to defraud investors. CySEC gave a few examples of how the fraudsters usually proceed. They claim to be CySEC officers or representatives or other real or fake bodies. The scammers usually approach investors via…

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CySEC
July 12, 2021 BY Steffy Bogdanova

CySEC suspends the CIF licence of Depaho, operator of FXGM

The Cyprus watchdog went on to list other suspected violations and noted that the investment firm: does not appear to comply at all times with the conditions for authorisation; does not appear to take all reasonable steps to identify and to prevent or manage conflicts of interest between itself, including its managers, employees and tied…

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CySEC
June 09, 2021 BY Steffy Bogdanova

CySEC withdraws Bogofinance Capital Markets’s (FXJet) ICF membership

The move follows CySEC’s decision to withdraw the Cyprus Investment Firm (CIF) licence of BogoFinance Capital Markets. BogoFinance Capital Markets is a subsidiary of Lebanon-based broker BogoFinance, established in 2006 by local entrepreneur Joseph Boghos. The company obtained its CIF licence in 2017 when it entered the EU market and then rebranded as FXJet. Other…

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CySEC
May 19, 2021 BY Steffy Bogdanova

CySEC withdraws CIF license Rodeler, operator of 24Option

24Options's operation was also banned by other regulators. Rodeler was also banned in the UK by the Financial Conduct Authority in June 2020 for using fake endorsements from celebrities on social media and webpages to attract consumers. The French regulator AMF banned Rodeler Limited from providing services to both new and existing clients in France…

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