ROInvesting.com parent Royal Forex reaches €120,000 settlement with CySEC
The Cyprus Securities and Exchange Commission (CySEC) announces that a settlement has been reached with Cyprus investment firm Royal Forex Ltd for possible violations of the Investment Services and Activities and Regulated Markets Law of 2017 («the Law). More specifically, the investigation for which the settlement was reached, concerns the Company’s compliance, for the period of July 2020 to October 2021, with:
- 1. Article 22 (1) of the Law, as to the authorisation condition laid down in article 17(6) of the Law, regarding the organisational requirements with which a CIF is required to comply.
- 2. Articles 25(1) and 25(3) of the Law regarding the general principles and information addressed to clients.
The settlement reached with the Company, for the possible violations, is for the amount of €120,000. The company, which operates the ROInvesting brand, has already paid this amount.
This is not the first time Royal Forex settles with CySEC. As FNG reported back in October 2020, the firm reached a settlement with the regulator and agreed to pay a fine of €270,000.
CySEC’s website currently shows that Royal Forex is under examination for voluntary renunciation of the authorisation.