The shareholders behind Malta incorporated brokerage Sensus Capital are in the process of acquiring a new subsidiary in Cyprus, and according to information obtained by Finance Magnates the firm is already onboarding new clients through the CySEC regulated company GBE Safepay.
According to sources with knowledge of the matter, Sensus Capital is still maintaining its operating license in Malta and its existing clients have not been affected by the changes. The broker has also applied to rename its new Cypriot subsidiary.
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The license of GBE Safepay Transactions provides Sensus Capital with a market making license. Sensus Capital’s new clients are being handled by the Cypriot subsidiary.
According to information obtained by Finance Magnates, the investment in the new venture is a 7 digit amount as Sensus aims to bring additional client funds security to its clients. This new approach has become the norm for some companies operating on the island after investor concerns about the solvency of the Cypriot state have spread to the government backed deposit protection scheme on the island.
The company has faced challenges in the past after a dispute between shareholders triggered a visit by the Maltese regulator to the broker’s offices back in April. No regulatory action has been taken against Sensus Capital.