CySEC first suspended Depaho’s CIF license in July, extending the suspension twice in September and October.
The suspension of the authorisation of the Cyprus Investment Firm Depaho Ltd is further extended until November 19, 2021.
Depaho Ltd, the parent of FXGM, has until the end of September 2021 to proceed with the necessary actions to comply with the Law.
CySEC announces that the suspension of the authorisation of the Cyprus Investment Firm Depaho Ltd, parent of FXGM, is extended.
Depaho, the operator of FXGM, is deregistered from FI’s business register, following the revocation of the company’s license in Cyprus.
CySEC suspends the CIF authorization of FXGM parent Depaho Ltd due to violations of investment services laws.
We view this as the latest in a series of moves by the Cypriot regulator to “clean up” the Retail FX business on the EU island state.