Cyprus financial regulator CySEC has issued a new circular, warning CIF licensed entities in the country (mainly Retail FX and CFD brokers) that they should not be taking clients from Russia, unless properly licensed in that country. The Bank of Russia introduced licensing for Retail FX brokers in 2016, and has handed out just a…
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Cyprus financial regulator CySEC has issued a circular to all licensed CIFs in the country, outlining the rules under which CIFs (mainly Forex, CFD and Binary Options brokers) can operate using third party affiliates. Over the past two years CySEC has fined or even suspended the licenses of certain brokers, due to actions taken by…
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Cyprus financial regulator CySEC has issued a circular to CIF licensed brokers on the island regarding the new rules recently enacted in Spain for forex and binary options trading. As was reported at LeapRate back in late March, Spanish regulator CNMV issued new rules for brokers who offer leverage of more than 10x to Spain-based…
Read moreCyprus News Agency is reporting that the Cyprus Cabinet has reappointed Demetra Kalogerou to the post of Chairwoman of the Cyprus Securities and Exchange Commission (CySEC) for a period of five years, from September 15, 2016 to September 14, 2021. Kalogeru's current five year term, begun in 2011, expires next month. The Cabinet also reappointed…
Read moreCyprus regulator CySEC celebrated its 20th anniversary yesterday with a special event held at the Presidential Palace in Nicosia. The event was attended and addressed by the President of the Republic, Mr. Nicos Anastasiades, the Minister of Finance, Mr. Harris Georgiades, and the Chair of the European Securities and Markets Authority (ESMA), Mr. Steven Maijoor, within the…
Read morePoland's financial regulator, KNF, will invoke a law on July 16 deeming that a retail investor is allowed to invest in derivatives having a margin deposit that amounts to at least 1% of the nominal contract value of that instrument for OTC trades not cleared by a central counterparty
Read moreSubject to approval by specific trading venues, CySec will allow Cyprus Investment Firms to use market data reported by such venues. In giving Euronext as an example, CySec confirms that, among other things, redistribution of real-time and/or delayed market data is permissible
Read moreThe Cyprus Securities and Exchange Commission (CySEC) today issued a circular to Cyprus Investment Firms (CIFs) over the need to establish strict controls and monitor foreign exchange risks. The circular reminds all investment firms that the law, particularly Directive DI144-2007-14, obliges them to establish strategies and policies for taking up, managing, monitoring and mitigating the risks…
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