Paradise No More: CySEC Gets Tough

Moderator: moderators
rank: 1000+ posts
rank: 1000+ posts
Posts: 4409
Joined: Thu Jan 14, 2016 9:36 am
Reputation: 0
Gender: None specified

Paradise No More: CySEC Gets Tough

Postby » Sun Feb 07, 2016 12:47 pm

Cyprus had traditionally been an ideal hub for FX and binary options retailers, with manageable processes for registration and licensing, access to traders in the EU and a somewhat lax approach to administrative fining. Last year however, what had been an FX-paradisiac island with the occasional €5000 fine imposed by its regulatory body CySEC, has turned into a blood-in-the-water-market, after the financial regulator began cracking down on local brokerages and imposing fines on several large brokers totaling no less than €1,000,000 in fines and settlements for violations including bad handling of clients’ complaints, misleading advertising and poor assessment of ... (read more)

Please add to your ad blocker white list.
Thank you for your support.

Return to “news”