CySEC adds five more unauthorized brokerages to warning list
The Cyprus Securities and Exchange Commission (CySEC) today issued a warning regarding five unauthorized investment firms.
The warning concerns the following entities:
The regulator notes that the above-mentioned websites do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities, as provided for in Article 5 of Law 87 (I)/2017.
CySEC urges investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities.
The Commission has been been regularly updating the list of unauthorized firms. In August, for example, the regulator warned against six unauthorized brokerages.
Earlier in 2022, CySEC issued a warning regarding individuals posing as its representatives. The regulator has been informed that persons fraudulently presenting themselves as CySEC Officers or representatives are soliciting investors for fees in exchange for settlement of bogus compensation claims related to firms under CySEC supervision.