Bdswiss Holding Settles with CySEC for €150K After Suspected Breach of Conduct
- BDSwiss reached a settlement with CySEC for €150k amidst suspected violations of business conduct.
Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and binary options brokerage Bdswiss Holding Plc has reached a settlement with the Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term), following allegations of violations related to the group’s business conduct, according to a regulatory filing.
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As a Cyprus Investment Firm (CIF), Bdswiss Holding was flagged by the regulator, following suspicions that the group was undergoing improper conduct of business obligations related to its investment services to clients. CySEC cited Article 37(4), under which the group pursued action in the form of a settlement following supervisory measures.
In total, Bdswiss Holding was responsible for a fine of $161,000 (€150,000), which it settled with CySEC over possible violations suspected by the regulator. An investigation had preceded the ultimate settlement, which detailed possible Bdswiss Holdings’ compliance issues, related to Article 28(1), 8(2)(a), and 18(2)(d).
The settlement follows a board decision taken back in September, with the settlement constituting the first legal action taken against the firm in nine months. BDSwiss was fined a small sum of $5,360 (€5,000) last March by CySEC.
Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and binary options brokerage Bdswiss Holding Plc has reached a settlement with the Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term), following allegations of violations related to the group’s business conduct, according to a regulatory filing.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong.
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As a Cyprus Investment Firm (CIF), Bdswiss Holding was flagged by the regulator, following suspicions that the group was undergoing improper conduct of business obligations related to its investment services to clients. CySEC cited Article 37(4), under which the group pursued action in the form of a settlement following supervisory measures.
In total, Bdswiss Holding was responsible for a fine of $161,000 (€150,000), which it settled with CySEC over possible violations suspected by the regulator. An investigation had preceded the ultimate settlement, which detailed possible Bdswiss Holdings’ compliance issues, related to Article 28(1), 8(2)(a), and 18(2)(d).
The settlement follows a board decision taken back in September, with the settlement constituting the first legal action taken against the firm in nine months. BDSwiss was fined a small sum of $5,360 (€5,000) last March by CySEC.