WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
您当前语言与浏览器默认语言不一致，是否切换？
切换
Global Broker Regulation & Inquiry App
Cyprus Securities and Exchange Commission
Year 2001Regulated by Government
The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. It is an independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.
Disclose broker
Disclosure summary
- Disclosure matching Website matching
- Disclosure time 2022-04-19
- Penalty amount $ 10,220.00 USD
- Reason for punishment non-compliance with article 16(2) of Regulation (EU) 596/2014 on market abuse, as it did not establish and maintain effective arrangements and systems for detecting suspicious transactions, since it was not taking due account the circumstances of change in the price of the financial instruments (size of change, period of time, issuance of announcements by the issuer) in which it is trading, and which may give rise to reasonable suspicions that a transaction on the financial instrument could constitute insider dealing.
Disclosure details
CYSEC Board Decision
19 April 2022
CYSEC Board Decision
Announcement date: 19.04.2022 Board decision date: 28.03.2022
Regarding: BrokerCreditService (Cyprus) Limited
Legislation: Regulation (EU) 596/2014 on Market Abuse
Subject: Fine €10.000
Judicial Review: Click here Judicial Review Ruling: Click here
The Board of the Cyprus Securities and Exchange Commission (the ‘CySEC’) wishes to
inform the public that, at its meeting held on the 28th March 2022, decided to impose an
administrative fine of €10.000 to CIF BrokerCreditService (Cyprus) Limited (the ‘Company’)
for non-compliance with article 16(2) of Regulation (EU) 596/2014 on market abuse, as it
did not establish and maintain effective arrangements and systems for detecting suspicious
transactions, since it was not taking due account the circumstances of change in the price
of the financial instruments (size of change, period of time, issuance of announcements by
the issuer) in which it is trading, and which may give rise to reasonable suspicions that a
transaction on the financial instrument could constitute insider dealing.
Full details/justification of the CySEC’s decision are/is available in the Greek text of the
announcement.
Annex
More regulatory disclosure
Danger
2021-11-05
INVESTOR ALERT AGAINST TELFORWARD 
TELFORWARD
Danger
2022-06-27
INVESTOR ALERT: FINANCEMARKETINDEX & BILLIONAIRES
FINANCE 
Finance Market Index
Danger
2023-02-06
INVESTOR ALERT: SAQS INVESTMENT 
Saqs Investment