Charalambos Kiritsis of defunct FX broker UBFS Invest fined €10,000 by CySEC LeapRate

July 28, 2017 BY Valentina Kirilova

Charalambos Kiritsis of defunct FX broker UBFS Invest fined €10,000 by CySEC

The Board of the Cyprus Securities and Exchange Commission (CySEC) has informed that, at its meeting held on 26 June 2017, decided to impose an administrative fine of €10.000 to Mr. Charalambos Kiritsis for non compliance paragraph 9(1) of CySEC Directive DI144-2007-01 of 2012 for the Authorisation and Operating Conditions of CIFs (‘the Directive’) since,…

December 13, 2016 BY Valentina Kirilova

CySEC withdraws license of retail forex broker UBFS Invest / Moneychoice

The Cyprus Securities and Exchange Commission (CySEC) announced that, on its meeting of 28th November 2016, has decided to wholly withdraw the Cyprus Investment Firm authorization with number 239/14 of «UBFS Invest powered by Moneychoice Brokers Ltd» operating at www.moneychoicebrokers.com, www.ubfsinvest.com. The withdraw has been made due to UBFS’s non-compliance with: Section 28(1) of the Law…

September 21, 2016 BY LeapRate Staff

CySEC extends suspension of Forex broker UBFS Invest, begins withdrawal proceedings

Cyprus financial regulator CySEC has extended the CIF license suspension of retail forex broker UBFS Invest (full legal name: UBFS Invest Powered By Moneychoice Brokers Ltd). The regulator also noted that it has started the process to withdraw UBFS Invest's authorization. A visit to the UBFS Invest website now yields the following pop-up: CySEC has stated that…

August 09, 2016 BY Valentina Kirilova

CySEC continues CIF license suspension of Forex broker UBFS Invest

Cyprus financial regulator CySEC has once again extended the retail forex broker UBFS Invest (full legal name: UBFS Invest Powered By Moneychoice Brokers Ltd)'s suspension. CySEC has stated that UBFS appears to be non-compliant with Cyprus’ law of protection of client funds, its own funds appear to be less than the sum of its capital…

June 29, 2016 BY LeapRate Staff

CySEC continues CIF license suspension of Forex broker UBFS Invest

Cyprus financial regulator CySEC's typical modus operandi when faced with a suspension-worthy offense by one of its regulated entities is to suspend the CIF license of that company for one month, giving the company a full 30 days to fix things. Sometimes that happens, but sometimes it doesn't happen. In the case of retail forex…

May 27, 2016 BY Mike Fox

CySEC suspends license of Forex brokerage UBFS Invest for capital deficiencies

The Cyprus Securities and Exchange Commission announces that, following a decision in the meeting dated 23 May 2016, the authorisation of the Cyprus Investment Firm ‘UBFS Invest powered by Moneychoice Brokers Ltd’, with number 239/14, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in…

Tag: UBFS invest