Earlier, the firm surrendered its CIF license due to payout challenges.
Harborx was acquired and rebranded as Ayers Alliance, providing investment and wealth management services.
CySEC
The Cyprus Securities and Exchange Commission has imposed
sanctions on the Board of Directors of Ayers Alliance Financial Group Limited.
The decision follows a review of the board’s compliance with the Investment
Services and Activities and Regulated Markets Law.
CySEC found that the board failed to establish and oversee
arrangements to ensure the company was managed effectively and prudently. The
regulator noted that required governance measures were not applied at the end
of 2021, affecting the integrity of the market and client interests.
The measures target key board members, including Executive
Director Tung Sun Tat Clement, CEO Brian Nicolas Gay, and General Manager
Wissam Sabbah, as well as independent directors Niels Ramin Vahman and Vasiliki
Pourgoura.
Source: CySEC
CySEC Imposes Fines, Bans Executives
The sanctions include fines and bans from holding management
positions in Cyprus Investment Firms. The Executive Director and Shareholder
received the highest penalty, including a fine and a long-term ban. Other
executive and independent directors were also banned, with some receiving
additional fines.
CySEC said the measures were imposed to enforce governance
standards within investment firms. The regulator added that full details and
justification are available in the Greek version of the announcement. No
judicial review was requested, and no ruling has been issued.
Harborx Rebranded as Ayers Alliance Financial Group
The firm then offered investment and wealth management
services under the new brand, marking Ayers Alliance’s expansion into the
European market. Harborx’s former team is reported to have moved to a
cryptocurrency exchange project supported by institutional investors.
Harborx was acquired and rebranded as Ayers Alliance,
providing investment and wealth management services.
The Cyprus Securities and Exchange Commission has imposed
sanctions on the Board of Directors of Ayers Alliance Financial Group Limited.
The decision follows a review of the board’s compliance with the Investment
Services and Activities and Regulated Markets Law.
CySEC found that the board failed to establish and oversee
arrangements to ensure the company was managed effectively and prudently. The
regulator noted that required governance measures were not applied at the end
of 2021, affecting the integrity of the market and client interests.
The measures target key board members, including Executive
Director Tung Sun Tat Clement, CEO Brian Nicolas Gay, and General Manager
Wissam Sabbah, as well as independent directors Niels Ramin Vahman and Vasiliki
Pourgoura.
Source: CySEC
CySEC Imposes Fines, Bans Executives
The sanctions include fines and bans from holding management
positions in Cyprus Investment Firms. The Executive Director and Shareholder
received the highest penalty, including a fine and a long-term ban. Other
executive and independent directors were also banned, with some receiving
additional fines.
CySEC said the measures were imposed to enforce governance
standards within investment firms. The regulator added that full details and
justification are available in the Greek version of the announcement. No
judicial review was requested, and no ruling has been issued.
Harborx Rebranded as Ayers Alliance Financial Group
The firm then offered investment and wealth management
services under the new brand, marking Ayers Alliance’s expansion into the
European market. Harborx’s former team is reported to have moved to a
cryptocurrency exchange project supported by institutional investors.
Harborx was acquired and rebranded as Ayers Alliance,
providing investment and wealth management services.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
Webull Spent Big to Hit Record Revenue, and the Bill Is in the Fine Print
FP Markets Winner Spotlight 🏆 | Global Broker of the Year 2025 #Trading #Broker #Innovation #Shorts
FP Markets Winner Spotlight 🏆 | Global Broker of the Year 2025 #Trading #Broker #Innovation #Shorts
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
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#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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▶️ YouTube: /@financemagnates_official
#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
Hola Prime Review: What You Need to Know | Full Breakdown by Finance Magnates
Hola Prime Review: What You Need to Know | Full Breakdown by Finance Magnates
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
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▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
Axi Winner Spotlight 🏆 | Global Most Innovative Broker 2025 #Innovation #Trading #Fintech #Broker
Axi Winner Spotlight 🏆 | Global Most Innovative Broker 2025 #Innovation #Trading #Fintech #Broker
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
