The Cyprus Securities and Exchange Commission (CySEC) today announces that a settlement has been reached with Cyprus investment firm Key Way Investments Ltd. The EUR 120,000 settlement covers Key Way Investments’ possible violations of The Investment Services and Activities and Regulated Markets Law of 2017 (the Law).

More specifically, the onsite inspection conducted in June 2019 for which the settlement was reached, involved assessing the Company’s compliance with:

• Article5(1) of the Law, regarding the requirement for CIF authorisation.
• Article 22(1) of the Law, as to the authorisation condition laid down in article 9(16) of the Law, regarding the management body and in article 17, paragraphs (4) and (6), of the Law, regarding the organisational requirements with which a CIF is required to comply.
• Article 24 of the Law, regarding conflicts of interest.
• Articles 25 (3) of the Law, regarding general principles and information to clients.
• Paragraphs 5, sub-paragraphs (2), (5) and (6), of the Directive for the Certification of Persons and the Certification Registers (R.A.C. 44/2019), regarding certified persons.

This is yet another fine to be issued to a retail FX firm in Cyprus. Earlier in October, CySEC announced a fine of €270,000 settling charges against Royal Forex Ltd, parent of retail FX website brands Roinvesting.com and royalforex.com. In September, the regulator announced a fine of €270,000 settling charges against Depaho Limited, parent of retail FX broker FXGM.

CySEC’s website shows that Key Way Investments operates the following domains: www.cfdglobal.com; www.keywayinvestments.ro; www.keywayinvestments.com; www.capex.com. The company has been licensed since January 21, 2016.