CySEC Warns Brokers about Offering Their Services in Russia
Posted: Thu May 31, 2018 11:59 am
The Cyprus Securities and Exchange Commission (CySEC) has warned regulated brokers about offering their services in Russia. According to the existing EU regulatory framework, companies are only allowed to offer their services in jurisdictions where they are allowed to.
In a statement, the Cypriot regulator highlighted that brokers regulated on the island do not have the permit to offer their services in Russia unless they are also regulated by the Bank of Russia.
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The Chairman of the CySEC, Demetra Kalogerou, states that regulated firms have to consult with local legal representatives in ... (read more)