Both F1 Markets Ltd and Magnum FX (Cyprus) Ltd. have chosen to renounce their CySEC CIF licenses.
The recommendations aim to ensure that CySEC puts in place an organisational framework to enforce compliance by authorised firms.
CySEC has reached a €170,000 settlement with BCM Begin Capital Markets CY Ltd for possible violations of investment laws.
The settlement reached with Forex TB, for the possible violations, is for the amount of €270,000, which the company has already paid.
CySEC has issued a warning regarding seven brokerages that offer investment services in Cyprus without having the necessary license.
CySEC withdraws the Cyprus Investment Firm (CIF) authorisation with Number 141/11 of SPA Financial Services Ltd.
The CySEC settlement with the CIF Credit Financier Invest (CFI) Limited concerns possible violations of AML laws.
CySEC issues a reminder for registering to the Cyprus Beneficial Ownership Register of Express Trusts and Similar Legal Arrangements (CyTBOR).
Maxigrid was a CySEC CIF licensed Retail FX and CFD brokerage group, which operated the EuropeFX and AGM Markets brands.
The Cyprus Securities and Exchange Commission (CySEC) has added six entities to its list of unauthorized investment firms.