CySEC has prepared and made public on its website a Table of the Successful Candidates. The date of publication, of the aforementioned table on the CySEC website, shall be the date of registration of the persons, in the public register. The Table shows, the full name of each successful candidate, the examination taken and the…
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Cyprus financial regulator CySEC has issued a notice stating that it has suspended the CIF license of PFX Financial Professionals Ltd, which operates Retail Forex broker FXFINPRO at website fxfinpro.com. The company also operates portfolio management company FINPRO Investments at finproinvest.com. According to CySEC, there are suspicions of an alleged violation by FXFINPRO regarding persons who effectively direct the…
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LeapRate Exclusive... LeapRate has learned from people close to the situation that Cyprus financial regulator CySEC is getting set to issue directives which would ban entirely the issuing of bonuses to retail traders. We also understand that CySEC, in the same decision or separately, may also limit leverage allowed to be provided to retail traders…
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The Cyprus Securities and Exchange Commission (CySEC) has informed all interested parties who have already submitted and/or intend to submit an application to obtain CIF, UCITS Manager and external AIF Manager authorisation (license of operation), that, following the CySEC Board’s decision dated 14 November 2016, the authorisation procedure has been amended as follows: 1. CySEC will…
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Cyprus financial regulator CySEC has issued another warning against impersonators trying to use CySEC credentials in order to scam money from traders and investors. We had reported on previous such warnings on several occasions. Most recently in October, CySEC reported that it became aware of an unknown company based in the Caribbean which was presenting itself as…
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Pursuant to a relevant decision of the Cyprus Securities and Exchange Commission (CySEC), the Investor Compensation Fund for IF Clients (ICF) has announced the commencement of the compensation payment process by the ICF to the covered clients of Falcon Brokers Ltd. LeapRate has already reported of Falcon Brokers losing its CIF license. The address of the…
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The Board of the Cyprus Securities Exchange Commission (CySEC) has just informed that the company Falcon Brokers Ltd.'s CIF authorisation has been withdrawn as of March 2016. LeapRate has already reported of Falcon Brokers losing its CIF license after it was first suspended back in September 2015. CySEC has also ascertained that Falcon Brokers (as…
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The Cyprus Securities and Exchange Commission (CySEC) has announced that, on 30th September 2016, the CIF Starfish Markets (CY) Ltd lost its authorization with number 286/15. The company (formally named Starfish Markets) had received a CySEC license back in December, but never activated it. Starfish Markets is a registered New Zealand company controlled by Malaysian national…
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Cyprus financial regulator CySEC has issued a Consultation Paper regarding a proposed circular on the requirements for the safeguarding of client funds at regulated CIF entities. CySEC already requires regulated brokers to fully segregate client funds - one of the facets which saved Cyprus brokers and their clients from the 'haircut' given to all bank…
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Cyprus financial regulator CySEC has imposed a fine of €225,000 on XFR Financial Ltd, the parent company of retail forex broker XTrade, for a variety of violations. The largest parts of the fine relate to: providing investment investment advice without authorisation, failing to act fairly, honestly and professionally or in the best interests of clients in granting trading bonuses,…
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