CySEC Temporarily Suspends CIF License of Fenix Capital

[kreslik.news]

The Cyprus Financial regulator CySEC today said it handed down a suspension on the Cyprus Investment Firm (CIF) license of Fenix Capital Markets Trading Ltd, according to a decision being made at the regulator’s last meeting.

Fenix, which offers brokerage and investment advice services, had its license temporarily suspended after CySEC raised concerns over practices by the company, as well as its managment that the watchdog deemed potentially not compliant with regulatory standards.

[url=https://events.financemagnates.com/londonsummit/?utm_source=FM&utm_medium=AUTOLINK&utm_campaign=Article&utm_content=fmls18]Join the Leading Industry Event![/url]

In particular, the broker was initially flagged for non-compliance with section 22(1) of the Cypriot regulation “due to the Company’s possible non-compliance ... (read more)