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CommexFX has been slapped with another fine by the Cyprus Securities and Exchange Commission (CySEC). The regulator has imposed the new penalty at a meeting of its board in December 2015 totaling €100,000. Last year the company was fined €100,000 while its owner and director Abdel Rahman El Amary got slapped with a €30,000 fine.
The Cypriot watchdog is citing a different section of the law as a reason for the new administrative action. According to the CySEC’s communique, CommexFX has failed to comply with section 6(8) of the Investment Services and Activities and Regulated Markets Laws of 2007.
Speculation ... (read more)