CySEC withdraws license of Hoch Capital
The Cyprus Securities and Exchange Commission(CySEC) announces that it has decided, pursuant to section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05, to withdraw the Cyprus Investment Firm authorisation with Number 198/13 of Hoch Capital Ltd.
The regulator says the withdrawal is due to the company’s decision to expressly renounce its CIF authorization.
Hoch Capital operates Forex and CFD brands like itrader.com and tradeATF.com.
In December 2020, CySEC announced that it reached a settlement with Hoch Capital Ltd, which will see Hoch pay a fine of €260,000 to the Treasury of Cyprus.
CySEC said that the settlement involved possible violations by Hoch Capital including the requirement for CIF authorisation sufficiency of record keeping, conflicts of interest, information to clients, the obligation to execute orders on terms most favorable to the client, and the obligation to submit correct, complete and accurate information.