简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The Cyprus Securities and Exchange Commission (CySEC) today announced a EUR 270,000 settlement with Cyprus investment firm Forex TB Ltd.
The Cyprus Securities and Exchange Commission (CySEC) today announced a EUR 270,000 settlement with Cyprus investment firm Forex TB Ltd.
Forex TB operates the following approved domains: www.forextb.com and www.patronfx.com
The settlement concerns possible violations of the Investment Services and Activities and Regulated Markets Law of 2017 (“the Law”) the Directive DI144-2014-14 of the Cyprus Securities and Exchange Commission for the Prudential Supervision of Investment Services Firms (“the DI144-2014-14”).
More specifically, the investigation for which the settlement was reached, involved assessing the Companys compliance, for the period of April 2020 to December 2021, following its internal auditors report of April 2020 and other information examined, with regard tο:
Article 5(1) of the Law regarding the requirement for CIF authorisation.
Article 22(1) of the Law, as to the authorisation conditions laid down in articles 17(2) και 17(5)(a) of the said Law, regarding the organisational requirements with which a CIF is required to comply.
Article 24(1) of the Law regarding conflicts of interest.
Article 25, sections (1) and (3), of the Law regarding the general principles and information addressed to clients.
Article 26, sections (1) and (3)(a), of the Law, regarding the assessment of suitability and appropriateness and reporting to clients.
Paragraph 21(g) of the Directive DI144-2014-14 regarding the variable elements of remuneration.
The settlement reached with Forex TB, for the possible violations, is for the amount of €270,000, which the company has already paid.
It is noted that the amounts due to settlement agreements are calculated as revenue (income) to the Treasury of the Republic and do not constitute income of CySEC.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Discover Global Premier offerings, from trading platforms to regulatory concerns. Learn about its instruments, account types, and restrictions.
Choosing the right broker can significantly impact your trading experience in the dynamic world of online trading. Today, we compare two prominent brokers, FBS and ATFX, using four key dimensions: Rating, Basic Information, Benchmark, and Account Information.
Exness has announced the launch of the Exness Fintech Scholarships, available for application until July 7, 2024.
TNG Digital, in collaboration with CIMB Bank, has launched e-Mas, a digital gold investment product that enables TNG eWallet users to invest in gold starting from as little as RM10 (approximately 2.1 USD).