Hefty fine for Cyprus forex firm welcomed

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Hefty fine for Cyprus forex firm welcomed
 © FinancialMirror 2020

The Cyprus Securities and Exchange Commission’s (CySEC) hefty fine of a forex firm for not complying with financial regulations has been welcomed by the industry as showing the regulator has teeth.

The CEO of Limassol forex firm PFX Financial Professionals was slapped with €350,000 fine and a 10-year ban on trading, another senior director received a three-year ban for “negligence and non-compliance” with investment rules.

There was no mention whether the CEO and director defrauded their investors,...


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Hefty fine for Cyprus forex firm welcomed


The contents of this article including any associated images are © FinancialMirror 2020
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