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 17, 2016 BY Valentina Kirilova

CySEC to liquidate Forticap BalkanValue Equities and Forticap Global Currencies Fund investment compartments

The Cyprus Securities and Exchange Commission (CySEC) has announced that, the investment compartments Forticap BalkanValue Equities and Forticap Global Currencies Fund are under liquidation and dissolution, due to the total redemption of their shares. The Variable Capital Investment Company PLC’ (VCIC) has to proceed immediately to the necessary actions for the liquidation and dissolution of…

October 14, 2016 BY Valentina Kirilova

CySEC suspends ‘fast track’ examination scheme for the examination of applications for authorisation

The Cyprus Securities and Exchange Commission (CySEC) has informed that it has decided to suspend the ‘fast track’ examination scheme for the examination of applications for authorisation. The commission has reached the relevant decision due to the exceedingly large number of applications received for participation in the scheme. As a result, the commission will process…

October 11, 2016 BY Valentina Kirilova

CySEC announces a change in the treatment of the Investors Compensation Fund Contribution

The Cyprus Securities and Exchange Commission ( CySEC) has informed the Cyprus Investment Firms (CIFs) about the following: According to the Investment Services and Activities and Regulated Markets Law CIFs are obliged to be members of, and contribute to, the Investors Compensation Fund (ICF). By now for capital adequacy purposes, the ICF contribution has been categorised as an…

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…

September 30, 2016 BY Valentina Kirilova

CySEC extends suspension of AirFinance Pro Ltd

Following previous announcement dated 29 July 2016, the Cyprus Securities and Exchange Commission (CySEC), following a decision at the meeting dated 26 September 2016, announces that the authorisation of the Cyprus Investment Firm AirFinance Pro Ltd, with number 206/13, continues to be suspended. While the suspension of the authorisation is in force, AirFinance Pro Ltd:…

September 29, 2016 BY Valentina Kirilova

CySEC extends suspension of Retail Forex broker Best Choice FBC Ltd

Following previous announcement dated 9 August 2016, the Cyprus Securities and Exchange Commission, following a decision at the meeting dated 5 September 2016, announces that the authorisation of the Cyprus Investment Firm Best Choice FBC Ltd, with number 234/14, will continue to be suspended. LeapRate reminds that Best Choice FBC Ltd acquired FinFX’s retail clients last…

September 15, 2016 BY Valentina Kirilova

CySEC announces Guidelines on Cross Selling Practices under MiFID II

The Cyprus Securities and Exchange Commission (CySEC) has informed the Regulated Entities that the European Securities and Markets Authority (ESMA) has published its Guidelines on Cross Selling Practices under MiFID II to ensure investors are treated fairly when a firm offers two or more financial products or services as part of a package. The Guidelines include…

September 12, 2016 BY Valentina Kirilova

CYSEC extends suspension of the authorisation of Atlas Capital Financial Services Ltd

The Cyprus Securities and Exchange Commission has clarified that the suspension of the authorisation of the Cyprus Investment Firm Atlas Capital Financial Services Ltd has automatically been extended and the proceedings for the possible withdrawal of the relevant authorisation has commenced, pursuant to section 26(4)(b) of the Investment Services and Activities and Regulated Markets Law…

September 02, 2016 BY LeapRate Staff

SkyFX and Capital Option shut down, CySEC appoints liquidator

LeapRate Exclusive... LeapRate has learned that Cyprus financial regulator CySEC has arranged for the appointment of a provisional liquidator for Trademarker (Cyprus) Ltd. Trademarker was an Israel-owned and operated CySEC-regulated brokerage group, which operated a number of Retail Forex and Binary Options brokerage brands, primarily SkyFX (at skyfx.com) and Capital Option (at capitaloption.com). CySEC had…

Tag: CySEC