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CySEC withdraws CIF authorization of VPR Safe Financial Group

CySEC today announced the withdrawal of the Cyprus investment firm (CIF) authorization of VPR Safe Financial Group.

The Cyprus Securities and Exchange Commission (CySEC) today announced a settlement has been reached with VPR Safe Financial Group Ltd.

The AMF’s Enforcement Commission found that FSM’s failures were attributable to its manager, Lior Mattouk.

Alvexo parent VPR was fined €100,000 last year by CySEC, settling charges of CFD marketing violations.

Alvexo is an Italy and France focused Retail FX and CFD broker, run from Cyprus by Israeli CEO Yael Kleinman.