CySEC adds seven unauthorized investment firms to its warning list
The Cyprus Securities and Exchange Commission (CySEC) today issued a warning regarding four unauthorized investment firms.
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 advises investors to consult its website, before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities.
Earlier in April, 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.
For that reason, CySEC would like to remind the public that it never sends unsolicited correspondence to investors or members of the public, nor does it ever request any personal data, financial or otherwise. CySEC has no authority or jurisdiction to collect fees for any purpose from individual investors, nor does it have authority to appoint anyone to do so on its behalf.